Citi Trends (NASDAQ:CTRN) Raised to Hold at StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

CTRN has been the topic of several other reports. Craig Hallum upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, February 10th. DA Davidson reaffirmed a “buy” rating and set a $29.00 price objective on shares of Citi Trends in a report on Wednesday, March 19th.

Citi Trends Trading Down 0.6 %

Shares of Citi Trends stock opened at $22.63 on Friday. Citi Trends has a 12 month low of $13.66 and a 12 month high of $29.41. The business has a fifty day simple moving average of $24.53 and a two-hundred day simple moving average of $22.43. The firm has a market capitalization of $197.11 million, a P/E ratio of -7.37 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 for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $211.17 million during the quarter, compared to analysts’ expectations of $211.54 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share.

Institutional Investors Weigh In On Citi Trends

Several institutional investors have recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Citi Trends during the 3rd quarter valued at about $40,000. Quantbot Technologies LP lifted its holdings in Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after purchasing an additional 4,250 shares in the last quarter. Jane Street Group LLC purchased a new position in Citi Trends during the third quarter worth approximately $193,000. XTX Topco Ltd acquired a new stake in shares of Citi Trends during the 3rd quarter worth approximately $339,000. Finally, Barclays PLC boosted its stake in 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.

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.