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

StockNews.com upgraded shares of Citi Trends (NASDAQ:CTRN - Free Report) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other equities analysts also recently issued reports on CTRN. DA Davidson reaffirmed a "buy" rating and set a $29.00 price target on shares of Citi Trends in a research note on Wednesday, March 19th. Craig Hallum raised Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 target price for the company in a research report on Monday, February 10th.

Citi Trends Price Performance

Shares of NASDAQ CTRN traded down $0.49 during mid-day trading on Friday, hitting $22.14. 68,479 shares of the stock traded hands, compared to its average volume of 124,638. The company has a market cap of $192.84 million, a PE ratio of -7.21 and a beta of 2.29. Citi Trends has a twelve month low of $13.66 and a twelve month high of $29.41. The firm has a 50 day simple moving average of $24.44 and a two-hundred day simple moving average of $22.53.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The firm had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. During the same period in the previous year, the business posted $0.53 earnings per share.

Institutional Investors Weigh In On Citi Trends

Institutional investors have recently modified their holdings of the company. Shay Capital LLC lifted its holdings in Citi Trends by 40.1% in the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company's stock valued at $9,450,000 after buying an additional 102,958 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock valued at $5,221,000 after purchasing an additional 1,400 shares during the period. Geode Capital Management LLC boosted its position in shares of Citi Trends by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after purchasing an additional 3,086 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Citi Trends by 5,400.6% during the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company's stock worth $4,001,000 after purchasing an additional 149,651 shares during the period. Finally, Solas Capital Management LLC increased its holdings in Citi Trends by 17.6% in the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company's stock worth $3,975,000 after purchasing an additional 22,650 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.