Citi Trends (NASDAQ:CTRN) Downgraded to Sell Rating by StockNews.com

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

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

Citi Trends Price Performance

Shares of CTRN traded up $1.29 during midday trading on Thursday, hitting $22.34. 83,722 shares of the company traded hands, compared to its average volume of 122,952. Citi Trends has a one year low of $13.66 and a one year high of $29.41. The firm has a market cap of $194.58 million, a P/E ratio of -7.28 and a beta of 2.29. The stock has a 50-day moving average of $24.88 and a 200-day moving average of $22.27.

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

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Insider Transactions at Citi Trends

In other news, Director Jonathan Duskin sold 12,000 shares of Citi Trends stock in a transaction that occurred on Thursday, December 26th. The shares were 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 in the company, valued at $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Citi Trends

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