Citi Trends (NASDAQ:CTRN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a report published on Wednesday.

Several other analysts also recently issued reports on CTRN. DA Davidson increased their price target on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Monday.

Citi Trends Price Performance

Citi Trends stock opened at $27.28 on Wednesday. Citi Trends has a 12 month low of $13.65 and a 12 month high of $32.90. The company has a market cap of $237.61 million, a price-to-earnings ratio of -8.89 and a beta of 2.27. The stock’s 50-day moving average is $25.92 and its 200-day moving average is $20.68.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share for the quarter. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%.

Insiders Place Their Bets

In other news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total transaction of $317,280.00. Following the sale, the director now directly owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in shares of Citi Trends in the 3rd quarter valued at approximately $1,723,000. Royce & Associates LP increased its stake in shares of Citi Trends by 5.4% in the third quarter. Royce & Associates LP now owns 196,110 shares of the company’s stock worth $3,603,000 after buying an additional 10,000 shares during the last quarter. Empowered Funds LLC raised its holdings in Citi Trends by 5.3% in the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after acquiring an additional 1,206 shares in the last quarter. Quest Partners LLC bought a new position in Citi Trends during the 3rd quarter valued at $40,000. Finally, Quantbot Technologies LP grew its holdings in Citi Trends by 111.3% during the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after acquiring an additional 4,250 shares in 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.