Citi Trends (NASDAQ:CTRN) Upgraded 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 report sent to investors on Friday.

A number of other research firms have also commented on CTRN. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Monday, February 10th. DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Citi Trends in a research report on Wednesday, March 19th.

Citi Trends Stock Down 0.6 %

Shares of CTRN stock opened at $22.63 on Friday. The company has a market capitalization of $197.11 million, a P/E ratio of -7.37 and a beta of 2.29. Citi Trends has a 12-month low of $13.66 and a 12-month high of $29.41. The firm has a 50-day moving average price of $24.53 and a 200 day moving average price of $22.37.

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

Institutional Investors Weigh In On Citi Trends

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after acquiring an additional 149,651 shares during the period. Shay Capital LLC lifted its position in Citi Trends by 40.1% during the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after purchasing an additional 102,958 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Citi Trends by 130.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company’s stock valued at $1,575,000 after purchasing an additional 33,946 shares during the last quarter. Solas Capital Management LLC grew its position in shares of Citi Trends by 17.6% during the 4th quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock worth $3,975,000 after buying an additional 22,650 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Citi Trends by 157.3% during the 4th quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock worth $816,000 after buying an additional 19,005 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.