DA Davidson Issues Positive Forecast for Citi Trends (NASDAQ:CTRN) Stock Price

Citi Trends (NASDAQ:CTRN) had its target price lifted by DA Davidson from $40.00 to $43.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wall Street Zen cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Citi Trends has a consensus rating of “Buy” and a consensus price target of $39.50.

Citi Trends Price Performance

NASDAQ:CTRN opened at $36.78 on Wednesday. The company has a market capitalization of $304.91 million, a price-to-earnings ratio of -18.39 and a beta of 2.05. The business has a 50 day moving average of $31.36 and a 200 day moving average of $26.73. Citi Trends has a 1-year low of $13.65 and a 1-year high of $39.17.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, August 26th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.19. The business had revenue of $190.75 million for the quarter, compared to analysts’ expectations of $188.20 million. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.07%.

Insider Buying and Selling

In other Citi Trends news, VP Katrina George sold 750 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the sale, the vice president owned 6,150 shares in the company, valued at approximately $208,731. This trade represents a 10.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Citi Trends

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in Citi Trends in the first quarter valued at $121,992,000. Shay Capital LLC increased its position in shares of Citi Trends by 40.1% during the fourth 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. Royce & Associates LP increased its position in shares of Citi Trends by 34.8% during the first quarter. Royce & Associates LP now owns 248,356 shares of the company’s stock valued at $5,497,000 after buying an additional 64,178 shares during the period. AWM Investment Company Inc. raised its stake in Citi Trends by 1.6% in the first quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock worth $5,146,000 after buying an additional 3,694 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Citi Trends by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after buying an additional 1,400 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.