Citi Trends (NASDAQ:CTRN) Upgraded by StockNews.com to “Hold” Rating

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

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

Citi Trends Trading Down 2.7 %

Shares of CTRN opened at $27.28 on Wednesday. Citi Trends has a twelve month low of $13.65 and a twelve month high of $32.90. The firm has a market capitalization of $237.61 million, a P/E ratio of -8.89 and a beta of 2.27. The firm’s 50-day moving average is $25.92 and its two-hundred day moving average is $20.68.

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

Insider Activity at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the transaction, the director now owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. This represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CTRN. Exchange Traded Concepts LLC grew its position in shares of Citi Trends by 7.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock valued at $2,639,000 after purchasing an additional 6,702 shares during the period. Jane Street Group LLC purchased a new stake in Citi Trends in the 3rd quarter valued at about $193,000. Barclays PLC increased its stake in shares of Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after acquiring an additional 4,300 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Citi Trends by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after acquiring an additional 1,206 shares during the period. Finally, Quantbot Technologies LP boosted its position 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 last quarter.

About Citi Trends

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.