Citi Trends (NASDAQ:CTRN) Earns “Buy” Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of Citi Trends (NASDAQ:CTRN) in a research report released on Wednesday,Benzinga reports. DA Davidson currently has a $29.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Craig Hallum upgraded shares of 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, February 10th. StockNews.com raised Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th.

Citi Trends Stock Up 4.7 %

NASDAQ CTRN opened at $21.05 on Wednesday. Citi Trends has a twelve month low of $13.66 and a twelve month high of $29.41. The company’s 50-day simple moving average is $24.96 and its 200 day simple moving average is $22.09. The stock has a market cap 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 analysts’ consensus estimates of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The business had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. During the same period in the prior year, the business earned $0.53 earnings per share.

Insider Buying and Selling at Citi Trends

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares in the company, valued at $882,990.24. This represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in Citi Trends by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 24,083 shares of the company’s stock valued at $442,000 after acquiring an additional 1,206 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Citi Trends in the third quarter valued at approximately $40,000. Quantbot Technologies LP raised its holdings in shares of Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after purchasing an additional 4,250 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Citi Trends in the third quarter worth $193,000. Finally, XTX Topco Ltd acquired a new position in Citi Trends during the third quarter worth $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.