Citi Trends (NASDAQ:CTRN) Rating Increased 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 note released on Friday morning.

Several other research analysts also recently issued reports on the stock. Craig Hallum upgraded shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, February 10th. DA Davidson reissued a “buy” rating and set a $29.00 target price on shares of Citi Trends in a research report on Wednesday, March 19th.

Citi Trends Stock Performance

NASDAQ CTRN opened at $22.63 on Friday. The stock has a 50-day simple moving average of $24.53 and a 200 day simple moving average of $22.37. Citi Trends has a twelve month low of $13.66 and a twelve month high of $29.41. The stock has a market capitalization of $197.11 million, a PE ratio of -7.37 and a beta of 2.29.

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). The business had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same quarter last year, the firm earned $0.53 earnings per share.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds have recently made changes to their positions in CTRN. Barclays PLC boosted its position in shares of Citi Trends by 2.5% during the 4th quarter. Barclays PLC now owns 26,595 shares of the company’s stock valued at $699,000 after acquiring an additional 642 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Citi Trends by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company’s stock worth $98,000 after purchasing an additional 695 shares during the period. Empowered Funds LLC boosted its holdings in Citi Trends by 5.0% during the fourth quarter. Empowered Funds LLC now owns 25,278 shares of the company’s stock valued at $664,000 after purchasing an additional 1,195 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after purchasing an additional 1,400 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Citi Trends by 29.5% in the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company’s stock worth $231,000 after buying an additional 2,003 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.