Citi Trends, Inc.
) touched a new 52-week high of $17.72 on Monday, Sep 9, and
eventually closed trade at $17.47. The stock has been performing
well, based on the company's better-than-expected second-quarter
fiscal 2013 results and impressive outlook. This specialty
retailer has amassed a year-to-date return of 28.8%.
CITI TRENDS INC (CTRN): Free Stock Analysis
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The average volume of shares traded over the last 3 months was
approximately 84K. The last traded price is 16.5% above the Zacks
Consensus average analyst price target of $15.00. Additionally,
the company's long-term estimated earnings per share (EPS) growth
rate is 11.7%.
Investors are optimistic about this Zacks Rank #1 (Strong Buy)
stock as it reported loss of 37 cents per share for the second
quarter, narrowing down from a loss of 54 cents in the comparable
year-ago quarter. Moreover, it fared better than the Zacks
Consensus Estimate of loss of 43 cents per share. Citi Trends'
strategic initiatives such as better utilization of floor area,
improvising merchandise margins and efficient inventory
management have helped it to make a significant turnaround.
Further, Citi Trends provided an upbeat guidance for fiscal 2013.
The company expects to continue posting positive comparable store
sales and improved gross margin with lower levels of inventory.
Citi Trends intends to keep lesser inventory in the third and
fourth quarters of this fiscal as compared with the year-ago
Moreover, we believe that Citi Trends' strong focus on its store
expansion strategy will drive top-line growth. We also hold that
the company's debt-free balance sheet, along with cash and cash
equivalents of $61.2 million as of Aug 3, 2013, provides it the
financial flexibility to increase store count. Also, the
company's steps to reduce inventory shrinkage will help it to
steadily improve its operational performance going forward.
Apart from Citi Trends, other stocks such as
Deckers Outdoor Corp.
Tractor Supply Company
Boston Beer Co. Inc.
) achieved new 52-week highs of $62.85, $127.62 and $227.10,
respectively, on Sep 9, 2013.