StockNews.com Upgrades Citi Trends (NASDAQ:CTRN) to Hold

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

CTRN has been the topic of several other reports. Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, February 10th. DA Davidson reaffirmed a “buy” rating and set a $29.00 price objective on shares of Citi Trends in a research report on Wednesday, March 19th.

Citi Trends Stock Down 0.6 %

Shares of NASDAQ CTRN opened at $22.63 on Friday. The business’s 50 day moving average is $24.53 and its two-hundred day moving average is $22.43. The company has a market cap of $197.11 million, a P/E ratio of -7.37 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 posted its quarterly earnings data 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 during 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 period in the prior year, the firm posted $0.53 EPS.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Shay Capital LLC grew 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 valued at $9,450,000 after buying an additional 102,958 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Citi Trends by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after buying an additional 1,400 shares during the period. Geode Capital Management LLC lifted its holdings in Citi Trends by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock valued at $4,373,000 after purchasing an additional 3,086 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 buying an additional 149,651 shares during the period. Finally, Solas Capital Management LLC grew its position in shares of Citi Trends by 17.6% in the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after purchasing an additional 22,650 shares in the last quarter.

About Citi Trends

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.