Citi Trends (CTRN) Receiving Somewhat Positive News Coverage, Analysis Finds
Media coverage about Citi Trends (NASDAQ:CTRN) has trended somewhat positive on Saturday, Accern Sentiment reports. The research firm identifies positive and negative news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Citi Trends earned a daily sentiment score of 0.24 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 46.7994979706735 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
CTRN has been the subject of a number of research reports. BidaskClub upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Saturday, March 24th. MKM Partners upgraded shares of Citi Trends from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $32.00 in a research note on Tuesday, March 20th.
NASDAQ CTRN opened at $31.45 on Friday. The stock has a market cap of $424.26, a PE ratio of 24.48 and a beta of 0.22. Citi Trends has a 52-week low of $17.34 and a 52-week high of $32.49.
Citi Trends announced that its board has initiated a share repurchase program on Friday, March 16th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In other Citi Trends news, VP Ivy D. Council sold 4,156 shares of Citi Trends stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $30.71, for a total value of $127,630.76. Following the completion of the sale, the vice president now owns 80,984 shares in the company, valued at approximately $2,487,018.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christina Short sold 2,752 shares of Citi Trends stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $30.91, for a total transaction of $85,064.32. Following the completion of the sale, the senior vice president now owns 50,078 shares of the company’s stock, valued at approximately $1,547,910.98. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.
Citi Trends Company Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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