Citi Trends (NASDAQ:CTRN) Downgraded by StockNews.com to Sell

Citi Trends (NASDAQ:CTRN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

CTRN has been the subject of several other research reports. DA Davidson reiterated a “buy” rating and issued a $29.00 target price on shares of Citi Trends in a research note on Wednesday. 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 research report on Monday, February 10th.

Citi Trends Trading Down 5.4 %

Citi Trends stock traded down $1.15 during trading hours on Thursday, reaching $20.11. 169,256 shares of the company were exchanged, compared to its average volume of 122,743. Citi Trends has a 12 month low of $13.66 and a 12 month high of $29.41. The stock has a 50-day moving average of $25.07 and a 200 day moving average of $22.05. The firm has a market cap of $175.16 million, a price-to-earnings ratio of -6.55 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.

Insider Transactions at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction dated 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 transaction, the director now 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 SEC, which is available at this hyperlink. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its stake in Citi Trends by 7.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock valued at $2,639,000 after buying an additional 6,702 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Citi Trends during the third quarter valued at $193,000. Barclays PLC boosted its stake in shares of Citi Trends by 19.9% in the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after purchasing an additional 4,300 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Citi Trends by 5.0% in the 4th 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. Finally, Rhumbline Advisers grew its holdings 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 purchasing 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.