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 published on Thursday morning.

Other research analysts also recently issued reports about the stock. DA Davidson reiterated a “buy” rating and issued a $29.00 price target on shares of Citi Trends in a research report on Wednesday. Craig Hallum upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Monday, February 10th.

Citi Trends Stock Up 4.7 %

NASDAQ CTRN opened at $21.05 on Thursday. The company has a 50-day moving average price of $24.96 and a 200-day moving average price of $22.15. Citi Trends has a 52 week low of $13.66 and a 52 week high of $29.41. The firm has a market capitalization of $183.35 million, a P/E ratio of -6.86 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.73). Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. The business had revenue of $211.17 million during the quarter, compared to the consensus estimate of $211.54 million. During the same quarter in the previous year, the business posted $0.53 earnings per share.

Insider Activity

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction on 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 directly owns 33,396 shares in the company, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Trading of Citi Trends

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in Citi Trends by 2.5% in the 4th quarter. Barclays PLC now owns 26,595 shares of the company’s stock valued at $699,000 after acquiring an additional 642 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock valued at $98,000 after acquiring an additional 695 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Citi Trends by 5.0% in the 4th quarter. Empowered Funds LLC now owns 25,278 shares of the company’s stock worth $664,000 after buying an additional 1,195 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after buying an additional 1,400 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Citi Trends by 29.5% in the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company’s stock worth $231,000 after buying an additional 2,003 shares in the last quarter.

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.