Citi Trends (NASDAQ:CTRN) Earns "Buy" Rating from DA Davidson

DA Davidson restated their buy rating on shares of Citi Trends (NASDAQ:CTRN - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $29.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Craig Hallum upgraded shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Monday, February 10th. StockNews.com upgraded shares of Citi Trends from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th.

Citi Trends Trading Up 4.7 %

CTRN stock traded up $0.94 during midday trading on Wednesday, reaching $21.05. The company had a trading volume of 291,411 shares, compared to its average volume of 123,109. Citi Trends has a 1 year low of $13.66 and a 1 year high of $29.41. The company has a market capitalization of $183.35 million, a P/E ratio of -6.86 and a beta of 2.29. The company has a 50 day moving average of $24.96 and a two-hundred day moving average of $22.21.

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

Insider Transactions at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 33,396 shares in the company, valued at approximately $882,990.24. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Citi Trends in the 3rd quarter valued at $40,000. R Squared Ltd acquired a new position in Citi Trends in the 4th quarter valued at $85,000. Wells Fargo & Company MN grew its stake 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 buying an additional 695 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Citi Trends in the 4th quarter valued at $105,000. Finally, Quantbot Technologies LP grew its stake in Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company's stock valued at $148,000 after buying an additional 4,250 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.