Citi Trends (NASDAQ:CTRN) Stock Rating Upgraded by StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts have also recently issued research reports about the stock. DA Davidson decreased their target price 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 decreased 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

NASDAQ:CTRN opened at $19.95 on Thursday. Citi Trends has a 1-year low of $13.65 and a 1-year high of $32.90. The firm has a market capitalization of $171.87 million, a price-to-earnings ratio of -7.44 and a beta of 2.40. The company’s 50-day moving average is $18.97 and its two-hundred day moving average is $19.09.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The business had revenue of $176.55 million during the quarter. Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%.

Insider Activity at Citi Trends

In other Citi Trends news, CFO Heather L. Plutino bought 3,573 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $13.99 per share, with a total value of $49,986.27. Following the purchase, the chief financial officer now directly owns 21,316 shares in the company, valued at approximately $298,210.84. This represents a 20.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Citi Trends

A number of large investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in Citi Trends by 5.3% in the third quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after purchasing an additional 1,206 shares during the period. Quest Partners LLC purchased a new position in shares of Citi Trends in the 3rd quarter valued at about $40,000. Quantbot Technologies LP grew its position in shares of Citi Trends by 111.3% during 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 in the last quarter. Barclays PLC increased its stake in shares of Citi Trends by 19.9% during the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after buying an additional 4,300 shares during the period. Finally, Anchor Capital Advisors LLC raised its holdings in Citi Trends by 11.3% in the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after acquiring an additional 5,307 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.