Citi Trends’ (CTRN) Buy Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of Citi Trends (NASDAQ:CTRN) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $29.00 price target on the stock.

A number of other equities analysts also recently commented on CTRN. StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Craig Hallum raised shares of Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, February 10th.

Citi Trends Stock Down 4.1 %

Shares of CTRN opened at $21.26 on Wednesday. The firm has a fifty day simple moving average of $25.29 and a two-hundred day simple moving average of $22.07. Citi Trends has a twelve month low of $13.66 and a twelve month high of $29.41. The stock has a market capitalization of $185.17 million, a P/E ratio of -6.93 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.73). The business had revenue of $211.17 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.53 earnings per share.

Insider Activity at Citi Trends

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction on Thursday, December 26th. The stock was 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 in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Citi Trends

Hedge funds and other institutional investors have recently modified their holdings of the business. Shay Capital LLC boosted its stake in Citi Trends by 40.1% during the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after acquiring an additional 102,958 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after purchasing an additional 1,400 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Citi Trends by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock worth $4,373,000 after purchasing an additional 3,086 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 last quarter. Finally, Solas Capital Management LLC increased its position in Citi Trends by 17.6% during the 4th quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after buying 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.