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

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

Several other equities analysts have also issued reports on the company. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday. DA Davidson boosted their price objective on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th.

Citi Trends Stock Up 0.7 %

Citi Trends stock opened at $28.03 on Wednesday. The stock has a market capitalization of $244.14 million, a price-to-earnings ratio of -9.13 and a beta of 2.27. Citi Trends has a 12-month low of $13.65 and a 12-month high of $32.90. The stock has a 50-day simple moving average of $25.90 and a 200 day simple moving average of $20.63.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported ($0.78) earnings per share 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 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 transaction of $317,280.00. Following the sale, the director now owns 33,396 shares in the company, valued at $882,990.24. This represents a 26.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in Citi Trends in the 3rd quarter valued at $40,000. R Squared Ltd bought a new stake in Citi Trends in the 4th quarter valued at $85,000. Quantbot Technologies LP raised its stake in Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after acquiring an additional 4,250 shares during the period. AlphaQuest LLC raised its stake in Citi Trends by 287.5% in the 4th quarter. AlphaQuest LLC now owns 8,354 shares of the company’s stock valued at $219,000 after acquiring an additional 6,198 shares during the period. Finally, Jane Street Group LLC bought a new stake in Citi Trends in the 3rd quarter valued at $193,000.

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.