DA Davidson Reiterates Buy Rating for Citi Trends (NASDAQ:CTRN)

Citi Trends (NASDAQ:CTRN)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a report issued on Wednesday,Benzinga reports. They currently have a $29.00 price objective on the stock. DA Davidson’s price objective would suggest a potential upside of 44.21% from the stock’s previous close.

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

Citi Trends Trading Down 5.4 %

Shares of NASDAQ:CTRN opened at $20.11 on Wednesday. The stock’s 50-day moving average price is $25.07 and its 200-day moving average price is $22.05. Citi Trends has a 12-month low of $13.66 and a 12-month high of $29.41. The stock has a market capitalization of $175.16 million, a P/E ratio of -6.55 and a beta of 2.29.

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

Insider Buying and Selling

In related news, Director Jonathan Duskin sold 12,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the sale, the director now directly owns 33,396 shares of the company’s stock, valued at $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by insiders.

Institutional Trading of Citi Trends

Several large investors have recently modified their holdings of CTRN. Empowered Funds LLC grew its stake 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 worth $442,000 after purchasing an additional 1,206 shares during the last quarter. Quest Partners LLC purchased a new stake in Citi Trends in the third quarter worth about $40,000. Quantbot Technologies LP lifted its holdings in 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 buying an additional 4,250 shares during the period. Jane Street Group LLC purchased a new stake in Citi Trends in the third quarter worth about $193,000. Finally, XTX Topco Ltd purchased a new stake in Citi Trends in the third quarter worth about $339,000.

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.