StockNews.com Upgrades Citi Trends (NASDAQ:CTRN) to “Hold”

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

A number of other research analysts also recently weighed in on the company. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Monday, February 10th. DA Davidson reiterated a “buy” rating and issued a $29.00 price objective on shares of Citi Trends in a report on Wednesday, March 19th.

Citi Trends Stock Up 7.5 %

Shares of CTRN stock opened at $22.77 on Friday. The firm has a market cap of $198.33 million, a price-to-earnings ratio of -7.42 and a beta of 2.29. Citi Trends has a 12 month low of $13.66 and a 12 month high of $29.41. The stock has a 50-day moving average price of $24.61 and a 200 day moving average price of $22.31.

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

Institutional Investors Weigh In On Citi Trends

Several large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Citi Trends in the 3rd quarter valued at $40,000. Quantbot Technologies LP raised its stake 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 buying an additional 4,250 shares during the period. Jane Street Group LLC bought a new position in Citi Trends during the third quarter worth about $193,000. XTX Topco Ltd acquired a new position in Citi Trends in the third quarter valued at about $339,000. Finally, Barclays PLC increased its holdings in shares of Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after acquiring an additional 4,300 shares in 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.