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 report released on Saturday morning.

A number of other equities analysts also recently commented on the stock. DA Davidson increased their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Citi Trends Price Performance

Citi Trends stock opened at $36.19 on Friday. The firm has a 50-day moving average of $33.91 and a 200-day moving average of $29.59. Citi Trends has a one year low of $16.18 and a one year high of $39.37. The company has a market cap of $300.74 million, a price-to-earnings ratio of -18.10 and a beta of 2.19.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, January 12th. The company reported $1.22 EPS for the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The company had revenue of $251.92 million during the quarter. Citi Trends has set its FY 2020
Pre-Market guidance at 1.85-1.95 EPS. Q4 2020
Pre-Market guidance at 1.22-1.32 EPS.

Insider Transactions at Citi Trends

In related news, Director Margaret L. Jenkins sold 1,000 shares of the firm’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 completion of the sale, the director directly owned 16,163 shares in the company, valued at approximately $585,262.23. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Several hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in Citi Trends by 758.3% during the third quarter. CWM LLC now owns 2,678 shares of the company’s stock worth $83,000 after acquiring an additional 2,366 shares during the last quarter. State of Wyoming lifted its position in Citi Trends by 7.0% during the second quarter. State of Wyoming now owns 7,160 shares of the company’s stock worth $239,000 after acquiring an additional 469 shares during the last quarter. General Equity Holdings LP lifted its position in Citi Trends by 2.1% during the second quarter. General Equity Holdings LP now owns 172,229 shares of the company’s stock worth $5,751,000 after acquiring an additional 3,461 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Citi Trends during the second quarter worth approximately $742,000. Finally, Bank of America Corp DE lifted its position in Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after acquiring an additional 342 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.