Citi Trends (NASDAQ:CTRN) Stock Price Expected to Rise, Craig Hallum Analyst Says

Citi Trends (NASDAQ:CTRN) had its price target upped by Craig Hallum from $14.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Craig Hallum’s price target suggests a potential downside of 16.67% from the stock’s previous close.

Several other brokerages have also commented on CTRN. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. DA Davidson reduced their price objective on Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th.

Citi Trends Stock Performance

Shares of CTRN stock opened at $24.00 on Wednesday. The firm has a market cap of $206.88 million, a P/E ratio of -8.96 and a beta of 2.36. The business’s 50 day moving average price is $19.13 and its 200-day moving average price is $19.01. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90.

Institutional Investors Weigh In On Citi Trends

Institutional investors have recently modified their holdings of the business. Quest Partners LLC bought a new stake in Citi Trends in the 3rd quarter worth approximately $40,000. Quantbot Technologies LP grew its holdings in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after acquiring an additional 4,250 shares during the period. Jane Street Group LLC purchased a new stake in Citi Trends during the third quarter valued at $193,000. Deerfield Management Company L.P. Series C bought a new position in Citi Trends in the second quarter valued at about $208,000. Finally, Rhumbline Advisers boosted its position in Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after purchasing an additional 10,491 shares during the last quarter.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.