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

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

A number of other research firms also recently weighed in on CTRN. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Monday, February 10th. DA Davidson reaffirmed a “buy” rating and issued a $29.00 price target on shares of Citi Trends in a research note on Wednesday.

Citi Trends Stock Down 5.4 %

Shares of Citi Trends stock opened at $20.11 on Thursday. The company has a market cap of $175.16 million, a PE ratio of -6.55 and a beta of 2.29. The business has a 50 day moving average of $25.07 and a 200 day moving average of $22.05. Citi Trends has a 52 week low of $13.66 and a 52 week high of $29.41.

Citi Trends (NASDAQ:CTRN) last posted its earnings results on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing the consensus estimate of $0.18 by ($1.73). Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. The company had revenue of $211.17 million during the quarter, compared to analysts’ expectations of $211.54 million. During the same period in the prior year, the business posted $0.53 earnings per share.

Insiders Place Their Bets

In related news, Director Jonathan Duskin sold 12,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 33,396 shares in the company, valued at $882,990.24. This represents a 26.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Several hedge funds have recently added to or reduced their stakes in the stock. Shay Capital LLC raised its position in shares of Citi Trends by 40.1% in the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after purchasing an additional 102,958 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Citi Trends by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after buying an additional 1,400 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Citi Trends by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company’s stock worth $4,373,000 after buying an additional 3,086 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after buying an additional 149,651 shares during the last quarter. Finally, Solas Capital Management LLC increased its position in shares of Citi Trends by 17.6% during the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after acquiring an additional 22,650 shares in 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.