Citi Trends (NASDAQ:CTRN) Cut to Hold at Wall Street Zen

Citi Trends (NASDAQ:CTRN) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts also recently commented on the company. DA Davidson increased their price objective on Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Citi Trends in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Citi Trends presently has an average rating of “Hold” and an average target price of $39.50.

Citi Trends Price Performance

CTRN stock opened at $32.51 on Friday. Citi Trends has a 1-year low of $16.18 and a 1-year high of $39.37. The firm has a market cap of $270.16 million, a price-to-earnings ratio of -16.26 and a beta of 2.19. The firm has a fifty day moving average price of $32.82 and a two-hundred day moving average price of $28.43.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.19. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The business had revenue of $190.75 million during the quarter, compared to the consensus estimate of $188.20 million.

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the transaction, the director owned 16,163 shares of the company’s stock, valued at approximately $585,262.23. The trade was a 5.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Several large investors have recently added to or reduced their stakes in CTRN. GAMMA Investing LLC bought a new stake in Citi Trends during the first quarter worth $63,000. State of Wyoming purchased a new position in Citi Trends during the first quarter worth about $148,000. Dynamic Technology Lab Private Ltd bought a new stake in Citi Trends during the first quarter worth about $204,000. Bank of America Corp DE lifted its stake in Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after purchasing an additional 342 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Citi Trends by 5.0% in the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock valued at $223,000 after acquiring an additional 488 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.