Citi Trends (NASDAQ:CTRN) Stock Rating Upgraded by Craig Hallum

Citi Trends (NASDAQ:CTRN) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday,Finviz reports. The brokerage presently has a $36.00 price target on the stock. Craig Hallum’s price objective suggests a potential upside of 50.56% from the company’s current price.

A number of other research analysts have also weighed in on CTRN. DA Davidson increased their price target on Citi Trends from $20.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com downgraded Citi Trends from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th.

Citi Trends Stock Down 1.8 %

Shares of NASDAQ CTRN opened at $23.91 on Monday. The firm has a 50-day moving average price of $25.67 and a 200 day moving average price of $20.50. Citi Trends has a 52 week low of $13.65 and a 52 week high of $32.90. The stock has a market capitalization of $208.26 million, a price-to-earnings ratio of -7.79 and a beta of 2.27.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share for the quarter. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%.

Insider Activity

In related news, Director Jonathan Duskin sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares in the company, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Citi Trends during the third quarter valued at $40,000. R Squared Ltd acquired a new stake in shares of Citi Trends during the 4th quarter valued at about $85,000. Quantbot Technologies LP grew its stake in shares of Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock valued at $148,000 after buying an additional 4,250 shares in the last quarter. AlphaQuest LLC increased its holdings in Citi Trends by 287.5% in the fourth quarter. AlphaQuest LLC now owns 8,354 shares of the company’s stock worth $219,000 after buying an additional 6,198 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Citi Trends during the third quarter valued at approximately $193,000.

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.