Citi Trends (NASDAQ:CTRN) Stock Rating Upgraded by StockNews.com

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

A number of other research firms have also recently weighed in on CTRN. DA Davidson cut their price objective on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Craig Hallum cut their price target on Citi Trends from $25.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th.

Citi Trends Stock Down 0.3 %

Shares of CTRN stock opened at $19.95 on Thursday. 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 $171.87 million, a PE ratio of -7.44 and a beta of 2.40. The business has a 50-day simple moving average of $18.97 and a 200-day simple moving average of $19.09.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, August 27th. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($0.52) by ($1.42). Citi Trends had a negative return on equity of 12.62% and a negative net margin of 2.92%. The company had revenue of $176.55 million during the quarter.

Insiders Place Their Bets

In other news, CFO Heather L. Plutino acquired 3,573 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, for a total transaction of $49,986.27. Following the acquisition, the chief financial officer now owns 21,316 shares in the company, valued at approximately $298,210.84. This represents a 20.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently made changes to their positions in CTRN. Quest Partners LLC acquired a new position in Citi Trends in the 3rd quarter valued at $40,000. Quantbot Technologies LP raised its position in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Citi Trends in the third quarter worth about $193,000. Deerfield Management Company L.P. Series C acquired a new position in Citi Trends during the second quarter worth about $208,000. Finally, Rhumbline Advisers grew its stake in Citi Trends by 41,964.0% during the 2nd 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.

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.