Citi Trends (NASDAQ:CTRN) Downgraded to Hold Rating by Wall Street Zen

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

CTRN has been the subject of several other reports. DA Davidson raised their price objective on 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 report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.50.

Citi Trends Trading Up 0.7%

Shares of Citi Trends stock opened at $45.29 on Friday. The firm’s 50 day simple moving average is $36.72 and its two-hundred day simple moving average is $33.27. The firm has a market capitalization of $376.18 million, a price-to-earnings ratio of -22.65 and a beta of 2.24. Citi Trends has a 12-month low of $16.82 and a 12-month high of $45.92.

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 business 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.

Hedge Funds Weigh In On Citi Trends

Several institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new position in Citi Trends in the 1st quarter worth about $121,992,000. Marshall Wace LLP raised its stake in shares of Citi Trends by 269.2% during the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock worth $5,345,000 after buying an additional 116,722 shares during the period. UBS Group AG raised its stake in shares of Citi Trends by 478.3% during the 3rd quarter. UBS Group AG now owns 122,631 shares of the company’s stock worth $3,805,000 after buying an additional 101,426 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Citi Trends during the 3rd quarter valued at approximately $2,778,000. Finally, Invesco Ltd. grew its stake in Citi Trends by 243.3% in the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after acquiring an additional 73,678 shares during the period.

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.