Citi Trends (NASDAQ:CTRN) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a sell rating in a research note issued to investors on Thursday.

CTRN has been the topic of a number of other research reports. DA Davidson reissued a “buy” rating and issued a $29.00 target price on shares of Citi Trends in a report on Wednesday. Craig Hallum upgraded shares of 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.

Citi Trends Stock Down 5.4 %

Shares of CTRN stock opened at $20.11 on Thursday. The company has a 50 day moving average price of $25.07 and a 200-day moving average price of $22.05. Citi Trends has a 52 week low of $13.66 and a 52 week high of $29.41. The firm has a market capitalization of $175.16 million, a PE ratio of -6.55 and a beta of 2.29.

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

Insider Activity at Citi Trends

In other 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Citi Trends

Large investors have recently added to or reduced their stakes in the company. Shay Capital LLC increased its stake in shares of Citi Trends by 40.1% in the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after purchasing an additional 102,958 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after buying an additional 1,400 shares during the period. Geode Capital Management LLC increased its stake in Citi Trends by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock worth $4,373,000 after buying an additional 3,086 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after acquiring an additional 149,651 shares during the period. Finally, Solas Capital Management LLC lifted its position in shares of Citi Trends by 17.6% in the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after acquiring an additional 22,650 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.