Citi Trends (CTRN) is Reiterated by MKM Partners to Neutral, Lowers Price Target to $ 16

Citi Trends (CTRN) was Reiterated by MKM Partners to “Neutral” while Lowering the Price Target of the company shares to $ 16 from a previous price target of $19 . MKM Partners advised their investors in a research report released on May 18, 2016.

Many Wall Street Analysts have commented on Citi Trends. Citi Trends was Initiated by Sidoti to “Neutral” on Apr 5, 2016.

On the company’s financial health, Citi Trends reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.16 based on the information available during the earnings call on May 18, 2016. Analyst had a consensus of $0.76. The company had revenue of $193.70 million for the quarter, compared to analysts expectations of $198.53 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.74 EPS.

Citi Trends opened for trading at $16.14 and hit $16.4199 on the upside on Monday, eventually ending the session at $16.24, with a gain of 0.93% or 0.15 points. The heightened volatility saw the trading volume jump to 1,12,493 shares. Company has a market cap of $242 M.

In a different news, on Mar 23, 2016, John S Lupo (director) sold 1,024 shares at $18.12 per share price. According to the SEC, on Mar 23, 2015, James A Dunn (Sr. VP of Store Operations) sold 5,000 shares at $26.18 per share price.

Citi Trends Inc. is a retailer of urban fashion apparel and accessories. The Company’s stores average approximately 10800 square feet of selling space and are located in shopping centers. As of January 31 2015 the Company operated 511 stores in both urban and rural markets in 29 states. The Company offers products under its brands such as Citi Steps Red Ape Vintage Harlem and Lil Ms Hollywood. The Company’s merchandise includes apparel accessories and home. Within apparel the Company offers fashion sportswear for men women and children including offerings for newborns infants toddlers boys and girls. Accessories include handbags jewelry footwear belts intimate apparel scrubs and sleepwear. Home includes decorative home product functional home product beauty books toys and electronic accessories. The Company sources its merchandise from over 1600 vendors consisting of domestic manufacturers and importers.

Citi Trends

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