Citi Trends (NASDAQ:CTRN) Price Target Raised to $20.00

Citi Trends (NASDAQ:CTRN) had its price objective boosted by Craig Hallum from $14.00 to $20.00 in a research note released on Wednesday,Benzinga reports. Craig Hallum currently has a hold rating on the stock.

Several other research firms have also weighed in on CTRN. DA Davidson reduced their price objective on Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. StockNews.com raised shares of Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, November 28th.

Citi Trends Price Performance

Shares of CTRN opened at $25.18 on Wednesday. The firm has a 50 day simple moving average of $19.55 and a two-hundred day simple moving average of $19.12. Citi Trends has a one year low of $13.65 and a one year high of $32.90. The company has a market cap of $217.05 million, a P/E ratio of -8.20 and a beta of 2.36.

Hedge Funds Weigh In On Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in shares of Citi Trends during the third quarter worth about $1,723,000. Long Focus Capital Management LLC grew its holdings in Citi Trends by 24.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock worth $5,329,000 after acquiring an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock worth $12,938,000 after acquiring an additional 37,107 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Citi Trends in the 2nd quarter valued at approximately $584,000. Finally, XTX Topco Ltd bought a new position in shares of Citi Trends during the third quarter valued at $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.