Citi Trends (NASDAQ:CTRN) Stock Rating Lowered by StockNews.com

Citi Trends (NASDAQ:CTRN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research analysts have also issued reports on CTRN. Craig Hallum increased their price target on Citi Trends from $14.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday. DA Davidson lifted their price target on shares of Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday.

Citi Trends Price Performance

CTRN stock opened at $25.00 on Friday. The company’s 50-day moving average is $19.42 and its 200-day moving average is $19.10. The stock has a market capitalization of $215.50 million, a PE ratio of -8.14 and a beta of 2.36. Citi Trends has a 1 year low of $13.65 and a 1 year high of $32.90.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Citi Trends in the third quarter valued at approximately $40,000. Quantbot Technologies LP raised its position in Citi Trends by 111.3% in 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 during the last quarter. Jane Street Group LLC bought a new position in Citi Trends during the 3rd quarter valued at $193,000. Deerfield Management Company L.P. Series C purchased a new position in Citi Trends during the 2nd quarter worth $208,000. Finally, Rhumbline Advisers grew its stake in shares of Citi Trends by 41,964.0% in the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after acquiring an additional 10,491 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.