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

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN) from a sell rating to a hold rating in a research note released on Wednesday morning.

A number of other equities research analysts also recently issued reports on the company. 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. DA Davidson cut their target price on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th.

Citi Trends Trading Up 0.4 %

Shares of CTRN stock opened at $17.86 on Wednesday. Citi Trends has a 12-month low of $13.65 and a 12-month high of $32.90. The stock has a market capitalization of $153.86 million, a P/E ratio of -6.66 and a beta of 2.40. The firm’s 50 day moving average is $18.68 and its 200 day moving average is $19.25.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $176.55 million during the quarter.

Insider Buying and Selling at Citi Trends

In other news, CFO Heather L. Plutino bought 3,573 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $13.99 per share, for a total transaction of $49,986.27. Following the purchase, the chief financial officer now owns 21,316 shares in the company, valued at $298,210.84. This represents a 20.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kenneth Duane Seipel purchased 25,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average price of $14.39 per share, with a total value of $359,750.00. Following the purchase, the chief executive officer now directly owns 282,139 shares in the company, valued at $4,059,980.21. This represents a 9.72 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 31,573 shares of company stock valued at $455,336. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

Several large investors have recently made changes to their positions in CTRN. Quest Partners LLC purchased a new stake in shares of Citi Trends during the third quarter worth about $40,000. SG Americas Securities LLC bought a new position in Citi Trends in the 1st quarter worth approximately $139,000. Quantbot Technologies LP grew its holdings in Citi Trends by 111.3% during the 3rd 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 in the last quarter. Jane Street Group LLC bought a new stake in shares of Citi Trends during the third quarter valued at approximately $193,000. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Citi Trends in the second quarter worth $208,000.

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.