StockNews.com Downgrades Citi Trends (NASDAQ:CTRN) to Sell

Citi Trends (NASDAQ:CTRN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Other equities research analysts have also issued research reports about the company. DA Davidson reiterated a “buy” rating and issued a $29.00 target price on shares of Citi Trends in a research report on Wednesday. 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 Stock Up 4.7 %

CTRN opened at $21.05 on Thursday. Citi Trends has a 52-week low of $13.66 and a 52-week high of $29.41. The company has a market cap of $183.35 million, a P/E ratio of -6.86 and a beta of 2.29. The firm’s 50-day moving average price is $24.96 and its 200-day moving average price is $22.09.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data 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). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The company had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. During the same quarter last year, the company earned $0.53 EPS.

Insider Activity at Citi Trends

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction that occurred 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 represents a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Citi Trends

Several hedge funds have recently bought and sold shares of CTRN. Empowered Funds LLC boosted its position in Citi Trends by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock worth $442,000 after purchasing an additional 1,206 shares in the last quarter. Quest Partners LLC purchased a new stake in Citi Trends in the 3rd quarter worth approximately $40,000. Quantbot Technologies LP boosted 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 worth $148,000 after purchasing an additional 4,250 shares in the last quarter. Jane Street Group LLC purchased a new stake in Citi Trends in the 3rd quarter worth approximately $193,000. Finally, XTX Topco Ltd purchased a new stake in Citi Trends in the 3rd quarter worth approximately $339,000.

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.