Citi Trends’ (CTRN) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Citi Trends (NASDAQ:CTRN) in a report issued on Wednesday morning,Benzinga reports. They currently have a $29.00 price target on the stock.

Several other analysts have also weighed in on the company. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Monday, February 10th. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th.

Citi Trends Price Performance

CTRN opened at $21.05 on Wednesday. The stock’s 50 day moving average price is $24.96 and its 200 day moving average price 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 has a 12 month low of $13.66 and a 12 month high of $29.41.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) EPS 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 last year, the business posted $0.53 earnings per share.

Insider Activity

In other news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 33,396 shares of the company’s stock, valued at $882,990.24. This represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Citi Trends

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC bought a new position in Citi Trends during the third quarter valued at about $40,000. R Squared Ltd acquired a new position in shares of Citi Trends during the 4th quarter valued at about $85,000. Wells Fargo & Company MN raised its stake in shares of 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 in the last quarter. MetLife Investment Management LLC bought a new position in shares of Citi Trends in the 4th quarter valued at approximately $105,000. Finally, Quantbot Technologies LP grew its holdings in Citi Trends by 111.3% during 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.

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.