DA Davidson Boosts Citi Trends (NASDAQ:CTRN) Price Target to $28.00

Citi Trends (NASDAQ:CTRN) had its price target increased by equities research analysts at DA Davidson from $20.00 to $28.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 12.00% from the company’s previous close.

Several other research firms have also issued reports on CTRN. StockNews.com raised Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Craig Hallum raised their price objective on shares of Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday.

Citi Trends Stock Down 4.5 %

Shares of NASDAQ:CTRN opened at $25.00 on Wednesday. The stock has a market cap of $215.50 million, a price-to-earnings ratio of -8.14 and a beta of 2.36. The business’s 50 day moving average is $19.42 and its 200 day moving average is $19.10. Citi Trends has a 12-month low of $13.65 and a 12-month high of $32.90.

Hedge Funds Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently made changes to their positions in CTRN. Rhumbline Advisers increased its holdings in shares of Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock valued at $224,000 after acquiring an additional 10,491 shares in the last quarter. Anchor Capital Advisors LLC grew its position in Citi Trends by 11.3% during the 2nd quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock valued at $1,111,000 after purchasing an additional 5,307 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock valued at $12,938,000 after purchasing an additional 37,107 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Citi Trends in the second quarter worth about $584,000. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Citi Trends in the second quarter worth approximately $208,000.

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.