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

Citi Trends (NASDAQ:CTRN) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also issued reports about the stock. Craig Hallum upped their target price on shares of Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. DA Davidson boosted their target price on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Citi Trends Stock Performance

Shares of CTRN stock opened at $24.39 on Tuesday. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90. The company has a 50 day moving average price of $25.31 and a 200 day moving average price of $20.37. The stock has a market capitalization of $212.44 million, a P/E ratio of -7.94 and a beta of 2.27.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) EPS for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

Insider Buying and Selling at Citi Trends

In other news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction dated Thursday, December 26th. The shares were 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 of the company’s stock, valued at $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citi Trends

Hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of Citi Trends during the 3rd quarter worth approximately $1,723,000. Renaissance Technologies LLC purchased a new position in Citi Trends in the second quarter worth $584,000. Rhumbline Advisers lifted its holdings 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 period. XTX Topco Ltd acquired a new stake in shares of Citi Trends in the third quarter valued at about $339,000. Finally, Jane Street Group LLC purchased a new stake in shares of Citi Trends during the 3rd quarter worth approximately $193,000.

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.