Craig Hallum Forecasts Strong Price Appreciation for Citi Trends (NASDAQ:CTRN) Stock

Citi Trends (NASDAQ:CTRN) had its target price upped by investment analysts at Craig Hallum from $14.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price target would indicate a potential downside of 20.00% from the company’s current price.

A number of other research analysts also recently commented on CTRN. StockNews.com raised shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. DA Davidson cut their price target on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th.

Citi Trends Trading Down 4.5 %

Citi Trends stock opened at $25.00 on Wednesday. The stock has a 50-day moving average price of $19.42 and a 200 day moving average price of $19.10. Citi Trends has a 52 week low of $13.65 and a 52 week high of $32.90. The stock has a market cap of $215.50 million, a PE ratio of -8.14 and a beta of 2.36.

Institutional Trading of Citi Trends

Several institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Citi Trends during the third quarter valued at about $40,000. Quantbot Technologies LP raised its holdings in shares of Citi Trends by 111.3% during 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 acquired a new stake in Citi Trends in the 3rd quarter worth approximately $193,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Citi Trends during the 2nd quarter worth about $208,000. Finally, Rhumbline Advisers grew its position in 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 during 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.