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

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

A number of other research firms also recently issued reports on CTRN. DA Davidson decreased their price target on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Craig Hallum lowered their target price on Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th.

Citi Trends Stock Performance

NASDAQ CTRN opened at $17.86 on Wednesday. The stock has a market cap of $153.86 million, a P/E ratio of -6.66 and a beta of 2.40. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90. The stock has a 50 day simple moving average of $18.68 and a two-hundred day simple moving average of $19.25.

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

Insider Buying and Selling

In related news, CFO Heather L. Plutino bought 3,573 shares of the business’s stock in a transaction dated 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 completion of the purchase, the chief financial officer now owns 21,316 shares in the company, valued at approximately $298,210.84. The trade was a 20.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth Duane Seipel purchased 25,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the transaction, the chief executive officer now owns 282,139 shares in the company, valued at $4,059,980.21. The trade was a 9.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 31,573 shares of company stock valued at $455,336 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Citi Trends

Institutional investors have recently bought and sold shares of the company. Quest Partners LLC bought a new position in shares of Citi Trends in the third quarter worth approximately $40,000. SG Americas Securities LLC purchased a new position in Citi Trends in the 1st quarter worth approximately $139,000. Quantbot Technologies LP lifted its position 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 acquiring an additional 4,250 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Citi Trends during the 2nd quarter valued at $208,000. Finally, Rhumbline Advisers increased its holdings in shares of Citi Trends by 41,964.0% in the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after purchasing an additional 10,491 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.