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

Citi Trends (NASDAQ:CTRN – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Citi Trends Stock Performance

Citi Trends stock opened at $24.97 on Friday. The business’s 50-day simple moving average is $29.56 and its two-hundred day simple moving average is $25.01. The company has a market cap of $208.75 million, a PE ratio of 3.35 and a beta of 2.28. Citi Trends has a fifty-two week low of $15.48 and a fifty-two week high of $39.71.

Institutional Trading of Citi Trends

Large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in Citi Trends during the 4th quarter valued at about $53,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Citi Trends by 1,188.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,152 shares of the company’s stock worth $58,000 after buying an additional 1,985 shares during the last quarter. Barclays PLC boosted its stake in shares of Citi Trends by 303.7% in the fourth quarter. Barclays PLC now owns 2,176 shares of the company’s stock worth $58,000 after buying an additional 1,637 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Citi Trends by 82.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,536 shares of the company’s stock worth $67,000 after buying an additional 1,144 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its stake in shares of Citi Trends by 430.5% in the first quarter. Point72 Hong Kong Ltd now owns 2,727 shares of the company’s stock worth $84,000 after buying an additional 2,213 shares during the last quarter. Hedge funds and other institutional investors own 94.20% of the company’s stock.

Citi Trends Company Profile

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Citi Trends, Inc engages in the retail of urban fashion apparel, accessories, and home decor. It offers products under its Citi Steps and Red Ape brands. The company was founded in 1946 and is headquartered in Savannah, GA.