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

Citi Trends (NASDAQ:CTRN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also issued reports on the stock. Craig Hallum cut their target price on shares of Citi Trends from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. DA Davidson lowered their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th.

Citi Trends Trading Up 4.5 %

CTRN traded up $0.87 during trading on Thursday, reaching $20.02. 102,048 shares of the company’s stock were exchanged, compared to its average volume of 122,385. Citi Trends has a one year low of $13.65 and a one year high of $32.90. The stock has a market capitalization of $172.57 million, a PE ratio of -7.47 and a beta of 2.40. The firm has a fifty day moving average price of $18.91 and a two-hundred day moving average price of $19.11.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The company had revenue of $176.55 million for the quarter. Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%.

Insiders Place Their Bets

In other news, CFO Heather L. Plutino bought 3,573 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $13.99 per share, for a total transaction of $49,986.27. Following the completion of the acquisition, the chief financial officer now directly owns 21,316 shares in the company, valued at approximately $298,210.84. This trade represents a 20.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Citi Trends in the third quarter valued at about $1,723,000. Renaissance Technologies LLC purchased a new stake in shares of Citi Trends in the second quarter valued at about $584,000. Anchor Capital Advisors LLC raised its holdings in shares of Citi Trends by 11.3% in the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after purchasing an additional 5,307 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of 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 purchasing an additional 1,206 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.