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

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

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

Citi Trends Price Performance

Shares of NASDAQ CTRN opened at $20.02 on Thursday. Citi Trends has a 1 year low of $13.65 and a 1 year high of $32.90. The company’s 50-day moving average is $18.91 and its 200 day moving average is $19.11. The stock has a market capitalization of $172.57 million, a P/E ratio of -7.47 and a beta of 2.40.

Citi Trends (NASDAQ:CTRN) last announced its quarterly 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). Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%. The company had revenue of $176.55 million for the quarter.

Insiders Place Their Bets

In other Citi Trends news, CFO Heather L. Plutino acquired 3,573 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were acquired 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 owns 21,316 shares in the company, valued at $298,210.84. This trade represents a 20.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRN. Rhumbline Advisers lifted its stake in shares of Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after buying an additional 10,491 shares in the last quarter. Anchor Capital Advisors LLC lifted its stake 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 worth $1,111,000 after buying an additional 5,307 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $12,938,000 after buying an additional 37,107 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Citi Trends in the second quarter worth approximately $584,000. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Citi Trends in the second quarter worth approximately $208,000.

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.