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

Citi Trends (NASDAQ:CTRN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other research firms also recently commented on CTRN. DA Davidson reissued a “buy” rating and issued a $29.00 price objective on shares of Citi Trends in a research note on Wednesday. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Monday, February 10th.

Citi Trends Price Performance

Shares of NASDAQ:CTRN opened at $21.05 on Thursday. Citi Trends has a 1 year low of $13.66 and a 1 year high of $29.41. The firm has a market capitalization of $183.35 million, a price-to-earnings ratio of -6.86 and a beta of 2.29. The business’s 50 day moving average price is $24.96 and its 200-day moving average price is $22.09.

Citi Trends (NASDAQ:CTRN) last announced 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). 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 analysts’ expectations of $211.54 million. During the same quarter last year, the business earned $0.53 EPS.

Insider Activity at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 33,396 shares of the company’s stock, valued at approximately $882,990.24. This represents a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently modified their holdings of CTRN. JPMorgan Chase & Co. increased its stake in shares of Citi Trends by 5,400.6% in the 4th quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock worth $4,001,000 after acquiring an additional 149,651 shares during the last quarter. Shay Capital LLC increased its stake in shares of Citi Trends by 40.1% in the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after acquiring an additional 102,958 shares during the last quarter. Arrowstreet Capital Limited Partnership increased 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 worth $1,575,000 after acquiring an additional 33,946 shares during the last quarter. Solas Capital Management LLC increased its stake in shares of Citi Trends by 17.6% in the 4th quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock worth $3,975,000 after acquiring an additional 22,650 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Citi Trends by 157.3% in the 4th quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock worth $816,000 after acquiring an additional 19,005 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.