Citi Trends (NASDAQ:CTRN) Rating Increased to Hold at StockNews.com

Citi Trends (NASDAQ:CTRN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other research analysts have also recently issued reports about the company. DA Davidson reissued a “buy” rating and set a $29.00 price objective on shares of Citi Trends in a report on Wednesday, March 19th. Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Monday, February 10th.

Citi Trends Stock Performance

Shares of Citi Trends stock opened at $22.77 on Friday. Citi Trends has a twelve month low of $13.66 and a twelve month high of $29.41. The firm has a market cap of $198.33 million, a P/E ratio of -7.42 and a beta of 2.29. The firm’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $22.31.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.53 earnings per share.

Hedge Funds Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC bought a new position in shares of Citi Trends in the third quarter valued at about $40,000. R Squared Ltd acquired a new stake in Citi Trends in the 4th quarter valued at about $85,000. Wells Fargo & Company MN raised its stake in shares of Citi Trends by 22.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock worth $98,000 after acquiring an additional 695 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Citi Trends during the fourth quarter worth approximately $105,000. Finally, Quantbot Technologies LP lifted its position in shares of Citi Trends by 111.3% during the third 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.

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.