Citi Trends (NASDAQ:CTRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Citi Trends (NASDAQ:CTRN) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, DA Davidson increased their target price on Citi Trends from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $39.50.

Citi Trends Stock Up 1.9%

NASDAQ:CTRN opened at $34.58 on Friday. Citi Trends has a 52 week low of $16.18 and a 52 week high of $39.37. The stock’s 50-day moving average price is $32.46 and its 200-day moving average price is $27.57. The stock has a market capitalization of $287.36 million, a PE ratio of -17.29 and a beta of 2.07.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.19. The company had revenue of $190.75 million during the quarter, compared to analysts’ expectations of $188.20 million. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of Citi Trends stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $36.21, for a total value of $36,210.00. Following the sale, the director directly owned 16,163 shares of the company’s stock, valued at $585,262.23. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of Citi Trends by 5.1% during the fourth quarter. Northern Trust Corp now owns 77,013 shares of the company’s stock worth $2,022,000 after buying an additional 3,726 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock worth $5,221,000 after acquiring an additional 1,400 shares during the last quarter. Bank of America Corp DE boosted its position in Citi Trends by 29.5% during the fourth quarter. Bank of America Corp DE now owns 8,801 shares of the company’s stock worth $231,000 after acquiring an additional 2,003 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Citi Trends during the 4th quarter valued at about $284,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in Citi Trends by 10.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,419 shares of the company’s stock valued at $2,163,000 after acquiring an additional 7,931 shares during 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.