Citi Trends (NASDAQ:CTRN) Cut to “Hold” at Wall Street Zen

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

Separately, DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Citi Trends in a research note on Wednesday, March 19th.

Citi Trends Trading Down 1.0%

CTRN opened at $29.87 on Friday. The firm has a market cap of $247.74 million, a price-to-earnings ratio of -9.73 and a beta of 1.94. Citi Trends has a 12 month low of $13.66 and a 12 month high of $34.63. The stock has a fifty day moving average price of $24.96 and a 200-day moving average price of $24.70.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.36. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. The firm had revenue of $201.73 million for the quarter, compared to the consensus estimate of $195.76 million. During the same period in the previous year, the business earned ($0.32) EPS.

Insider Buying and Selling at Citi Trends

In related news, VP Katrina George sold 750 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the transaction, the vice president now owns 6,150 shares of the company’s stock, valued at approximately $208,731. This represents a 10.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.70% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

A number of large investors have recently bought and sold shares of the business. Nuveen LLC acquired a new position in Citi Trends in the 1st quarter worth about $121,992,000. Shay Capital LLC raised its holdings in shares of Citi Trends by 40.1% during the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock valued at $9,450,000 after acquiring an additional 102,958 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Citi Trends by 34.8% during the first quarter. Royce & Associates LP now owns 248,356 shares of the company’s stock valued at $5,497,000 after acquiring an additional 64,178 shares during the last quarter. AWM Investment Company Inc. raised its holdings in shares of Citi Trends by 1.6% during the first quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock valued at $5,146,000 after acquiring an additional 3,694 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company’s stock valued at $5,221,000 after acquiring an additional 1,400 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.