Citi Trends (NASDAQ:CTRN) Rating Increased to Hold at StockNews.com

Citi Trends (NASDAQ:CTRN - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Other equities research analysts have also recently issued research reports about the company. Craig Hallum raised Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target for the company in a report on Monday, February 10th. DA Davidson lifted their price target on Citi Trends from $20.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th.

Citi Trends Stock Up 1.0 %

Shares of NASDAQ CTRN traded up $0.29 during midday trading on Wednesday, hitting $28.19. The stock had a trading volume of 52,980 shares, compared to its average volume of 66,044. The stock has a 50 day simple moving average of $26.04 and a 200-day simple moving average of $20.81. The company has a market capitalization of $245.53 million, a PE ratio of -9.18 and a beta of 2.27. Citi Trends has a 1 year low of $13.65 and a 1 year high of $32.90.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its earnings results on Tuesday, December 3rd. The company reported ($0.78) earnings per share (EPS) for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

Insider Buying and Selling

In other news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total value of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company's stock, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On Citi Trends

Several institutional investors have recently bought and sold shares of CTRN. Quest Partners LLC acquired a new stake in Citi Trends during the 3rd quarter worth approximately $40,000. R Squared Ltd acquired a new stake in Citi Trends in the 4th quarter valued at about $85,000. Wells Fargo & Company MN raised its position in Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock valued at $98,000 after purchasing an additional 695 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Citi Trends during the fourth quarter worth approximately $105,000. Finally, Quantbot Technologies LP raised its holdings in Citi Trends by 111.3% in the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company's stock valued at $148,000 after acquiring an additional 4,250 shares in 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.