StockNews.com Downgrades Citi Trends (NASDAQ:CTRN) to Sell

StockNews.com cut shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a sell rating in a report released on Friday.

Several other analysts have also recently commented on CTRN. DA Davidson raised their target price on Citi Trends from $20.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum raised their price target on Citi Trends from $14.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday.

Citi Trends Trading Up 0.7 %

NASDAQ CTRN opened at $25.18 on Friday. The company has a 50-day moving average price of $19.55 and a two-hundred day moving average price of $19.12. The stock has a market cap of $217.05 million, a price-to-earnings ratio of -8.20 and a beta of 2.36. Citi Trends has a 52 week low of $13.65 and a 52 week high of $32.90.

Institutional Investors Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock valued at $478,000 after purchasing an additional 4,300 shares during the period. XTX Topco Ltd acquired a new position in Citi Trends during the third quarter worth about $339,000. Jane Street Group LLC bought a new stake in Citi Trends in the third quarter worth about $193,000. Quantbot Technologies LP lifted its holdings in 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 acquiring an additional 4,250 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Citi Trends during the 3rd quarter valued at about $40,000.

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.