StockNews.com Upgrades Citi Trends (NASDAQ:CTRN) to “Hold”

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

Several other brokerages have also recently weighed in on CTRN. DA Davidson reaffirmed a “buy” rating and issued a $29.00 price target on shares of Citi Trends in a research report on Wednesday, March 19th. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, February 10th.

Citi Trends Price Performance

Shares of NASDAQ CTRN opened at $22.63 on Friday. Citi Trends has a 1-year low of $13.66 and a 1-year high of $29.41. The business’s 50 day moving average is $24.53 and its two-hundred day moving average is $22.43. The stock has a market capitalization of $197.11 million, a P/E ratio of -7.37 and a beta of 2.29.

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

Institutional Trading of Citi Trends

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Shay Capital LLC boosted its position 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 during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Citi Trends by 0.7% during the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after purchasing an additional 1,400 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Citi Trends by 1.9% during 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 during the last quarter. JPMorgan Chase & Co. grew its position in shares of Citi Trends by 5,400.6% in the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after purchasing an additional 149,651 shares in the last quarter. Finally, Solas Capital Management LLC increased its holdings in shares of Citi Trends by 17.6% in the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after purchasing an additional 22,650 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.