Citi Trends (NASDAQ:CTRN) Earns Buy Rating from DA Davidson

Citi Trends (NASDAQ:CTRN)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They presently have a $29.00 target price on the stock. DA Davidson’s price objective suggests a potential upside of 44.21% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, February 10th.

Citi Trends Trading Down 5.4 %

Citi Trends stock opened at $20.11 on Wednesday. Citi Trends has a 12 month low of $13.66 and a 12 month high of $29.41. The business’s 50 day simple moving average is $25.07 and its 200 day simple moving average is $22.05. The company has a market cap of $175.16 million, a price-to-earnings ratio of -6.55 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.73). The company had revenue of $211.17 million for the quarter, compared to analysts’ expectations of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same quarter in the prior year, the company earned $0.53 EPS.

Insider Buying and Selling

In related news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the sale, the director now owns 33,396 shares in the company, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently made changes to their positions in CTRN. Exchange Traded Concepts LLC increased its stake in Citi Trends by 7.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock valued at $2,639,000 after acquiring an additional 6,702 shares during the last quarter. Jane Street Group LLC bought a new position in Citi Trends in the third quarter valued at $193,000. Barclays PLC increased its stake in Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after acquiring an additional 4,300 shares during the last quarter. Empowered Funds LLC increased its stake in Citi Trends by 5.0% in the fourth quarter. Empowered Funds LLC now owns 25,278 shares of the company’s stock valued at $664,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Citi Trends by 157.3% in the fourth quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock valued at $816,000 after acquiring an additional 19,005 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.