Citi Trends (NASDAQ:CTRN) Given “Buy” Rating at DA Davidson

Citi Trends (NASDAQ:CTRN)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They presently have a $29.00 price objective on the stock. DA Davidson’s price target would suggest a potential upside of 35.77% from the company’s current price.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, February 10th.

Citi Trends Stock Performance

NASDAQ CTRN traded down $0.80 during trading on Wednesday, hitting $21.36. The stock had a trading volume of 9,828 shares, compared to its average volume of 123,516. The stock has a market capitalization of $186.05 million, a price-to-earnings ratio of -6.96 and a beta of 2.29. Citi Trends has a one year low of $13.66 and a one year high of $29.50. The stock has a 50 day simple moving average of $25.29 and a 200 day simple moving average of $22.07.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.73). The company had revenue of $211.17 million for the quarter, compared to analysts’ expectations of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same period last year, the business posted $0.53 earnings per share.

Insiders Place Their Bets

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total value of $317,280.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Citi Trends during the third quarter worth $40,000. R Squared Ltd acquired a new stake in shares of Citi Trends during the fourth quarter worth $85,000. Wells Fargo & Company MN lifted its stake in shares of Citi Trends by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock worth $98,000 after buying an additional 695 shares during the period. MetLife Investment Management LLC acquired a new position in Citi Trends during the fourth quarter valued at $105,000. Finally, Quantbot Technologies LP lifted its position in Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after purchasing an additional 4,250 shares during the period.

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.