Centric Brands (NASDAQ:CTRC) Stock Rating Upgraded by ValuEngine

Centric Brands (NASDAQ:CTRC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

NASDAQ:CTRC traded up $0.04 during trading hours on Thursday, hitting $2.81. 154,341 shares of the stock traded hands, compared to its average volume of 52,354. The company has a current ratio of 0.77, a quick ratio of 0.25 and a debt-to-equity ratio of 304.20. Centric Brands has a 1 year low of $2.43 and a 1 year high of $6.00. The stock has a market capitalization of $158.07 million, a P/E ratio of -0.47 and a beta of -0.94. The firm has a 50 day moving average of $3.37.

Centric Brands (NASDAQ:CTRC) last issued its quarterly earnings results on Monday, May 20th. The company reported ($1.40) earnings per share for the quarter. Centric Brands had a negative net margin of 18.55% and a negative return on equity of 424.90%. The firm had revenue of $528.90 million for the quarter. As a group, research analysts forecast that Centric Brands will post -1.18 earnings per share for the current year.

A number of large investors have recently modified their holdings of CTRC. Millennium Management LLC purchased a new position in Centric Brands during the fourth quarter valued at approximately $75,000. Northern Trust Corp purchased a new position in Centric Brands during the fourth quarter valued at approximately $103,000. Dimensional Fund Advisors LP purchased a new position in Centric Brands during the fourth quarter valued at approximately $197,000. Creative Planning purchased a new position in Centric Brands during the second quarter valued at approximately $206,000. Finally, Geode Capital Management LLC purchased a new position in Centric Brands during the fourth quarter valued at approximately $327,000. 53.22% of the stock is currently owned by institutional investors and hedge funds.

About Centric Brands

Centric Brands Inc designs, produces, manages, and builds kid's wear, and women's and men's accessories and apparel, and distributes its products across various retail and digital channels in North America and international markets. The company also licenses approximately 100 brands across its core product categories, including kid's, women's, and men's accessories and apparel.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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