Citi Trends (NASDAQ:CTRN) Stock Rating Upgraded by Wall Street Zen

Citi Trends (NASDAQ:CTRN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

CTRN has been the subject of a number of other research reports. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. DA Davidson reissued a “buy” rating and set a $68.00 price objective on shares of Citi Trends in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Citi Trends presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Citi Trends Stock Up 5.6%

CTRN stock opened at $50.64 on Friday. The company has a market cap of $421.83 million, a price-to-earnings ratio of 36.43 and a beta of 1.88. Citi Trends has a 12-month low of $28.25 and a 12-month high of $56.78. The company has a 50 day moving average of $45.48 and a two-hundred day moving average of $45.11.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. The firm had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. Citi Trends had a return on equity of 2.09% and a net margin of 1.42%.During the same quarter last year, the firm earned $0.11 earnings per share.

Insider Buying and Selling

In related news, Director Margaret L. Jenkins sold 2,000 shares of Citi Trends stock in a transaction on Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the transaction, the director owned 14,163 shares in the company, valued at $650,223.33. This trade represents a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Citi Trends

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in shares of Citi Trends during the 4th quarter worth about $3,616,000. Tectonic Advisors LLC lifted its position in shares of Citi Trends by 203.3% during the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock worth $1,887,000 after purchasing an additional 30,428 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Citi Trends during the 3rd quarter worth about $812,000. GSA Capital Partners LLP acquired a new position in shares of Citi Trends during the 3rd quarter worth about $551,000. Finally, Sierra Summit Advisors LLC acquired a new position in shares of Citi Trends during the 4th quarter worth about $994,000.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.