Citi Trends (NASDAQ:CTRN) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a sell rating in a report released on Friday morning.

Several other research analysts also recently weighed in on CTRN. Craig Hallum lifted their target price on shares of Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. DA Davidson raised their price target on shares of Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th.

Citi Trends Price Performance

Citi Trends stock opened at $25.18 on Friday. The firm’s 50 day simple moving average is $19.55 and its 200-day simple moving average is $19.07. The company has a market cap of $216.93 million, a P/E ratio of -8.20 and a beta of 2.36. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90.

Institutional Trading of Citi Trends

A number of institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Citi Trends in the third quarter worth $40,000. Quantbot Technologies LP increased its position in Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after acquiring an additional 4,250 shares during the period. Jane Street Group LLC bought a new position in Citi Trends during the third quarter worth $193,000. Deerfield Management Company L.P. Series C bought a new position in Citi Trends during the second quarter worth $208,000. Finally, Rhumbline Advisers increased its position in Citi Trends by 41,964.0% during the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after acquiring an additional 10,491 shares during the period.

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.