Citi Trends (NASDAQ:CTRN) Stock Rating Lowered by Wall Street Zen

Citi Trends (NASDAQ:CTRN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

CTRN has been the subject of several other research reports. DA Davidson increased their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Citi Trends in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Citi Trends Trading Up 1.7%

NASDAQ:CTRN opened at $32.51 on Friday. The stock has a 50-day moving average price of $32.82 and a 200 day moving average price of $28.54. Citi Trends has a 12-month low of $16.18 and a 12-month high of $39.37. The stock has a market capitalization of $270.16 million, a P/E ratio of -16.26 and a beta of 2.19.

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

Insider Activity at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $36.21, for a total value of $36,210.00. Following the transaction, the director directly owned 16,163 shares in the company, valued at approximately $585,262.23. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of Citi Trends during the first quarter worth approximately $63,000. State of Wyoming bought a new position in Citi Trends in the first quarter worth approximately $148,000. Dynamic Technology Lab Private Ltd purchased a new position in Citi Trends during the 1st quarter worth $204,000. Bank of America Corp DE raised its position in Citi Trends by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after purchasing an additional 342 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Citi Trends by 5.0% during the 1st quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock valued at $223,000 after purchasing an additional 488 shares in 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.