Citi Trends (NASDAQ:CTRN) Rating Lowered to “Hold” at 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 report released on Monday.

A number of other analysts have also recently commented on the company. DA Davidson set a $43.00 price objective on Citi Trends and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.50.

Citi Trends Stock Performance

CTRN stock opened at $42.88 on Monday. The stock’s 50 day moving average price is $39.92 and its 200 day moving average price is $34.89. The firm has a market cap of $358.05 million, a P/E ratio of -21.44 and a beta of 2.16. Citi Trends has a 1 year low of $16.82 and a 1 year high of $49.50.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, December 2nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). Citi Trends had a negative return on equity of 22.84% and a negative net margin of 2.05%.The company had revenue of $197.09 million for the quarter, compared to analysts’ expectations of $187.33 million.

Institutional Trading of Citi Trends

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in Citi Trends by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after buying an additional 342 shares during the period. Anchor Capital Advisors LLC boosted its position in shares of Citi Trends by 1.4% in the third quarter. Anchor Capital Advisors LLC now owns 28,599 shares of the company’s stock worth $887,000 after acquiring an additional 384 shares during the last quarter. State of Wyoming grew its holdings in Citi Trends by 7.0% in the second quarter. State of Wyoming now owns 7,160 shares of the company’s stock valued at $239,000 after purchasing an additional 469 shares during the period. Hsbc Holdings PLC increased its position in Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock worth $223,000 after purchasing an additional 488 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 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.