Citi Trends (NASDAQ:CTRN) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Citi Trends (NASDAQ:CTRN) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research firms have also recently commented on CTRN. DA Davidson lifted their target price on Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Citi Trends in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $39.50.

Citi Trends Stock Performance

CTRN opened at $31.68 on Friday. The business’s 50-day simple moving average is $32.85 and its 200-day simple moving average is $28.61. Citi Trends has a one year low of $16.18 and a one year high of $39.37. The stock has a market capitalization of $263.26 million, a P/E ratio of -15.84 and a beta of 2.19.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, August 26th. The company reported ($0.82) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.The business had revenue of $190.75 million for the quarter, compared to analysts’ expectations of $188.20 million.

Insider Activity at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the sale, the director owned 16,163 shares of the company’s stock, valued at $585,262.23. The trade was a 5.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in Citi Trends in the 1st quarter valued at approximately $121,992,000. Royce & Associates LP lifted its stake in Citi Trends by 34.8% in the 1st quarter. Royce & Associates LP now owns 248,356 shares of the company’s stock valued at $5,497,000 after buying an additional 64,178 shares in the last quarter. AWM Investment Company Inc. lifted its stake in Citi Trends by 1.6% in the 1st quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock valued at $5,146,000 after buying an additional 3,694 shares in the last quarter. General Equity Holdings LP lifted its stake in Citi Trends by 2.1% in the 2nd quarter. General Equity Holdings LP now owns 172,229 shares of the company’s stock valued at $5,751,000 after buying an additional 3,461 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Citi Trends by 269.2% in the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after buying an additional 116,722 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.