Citi Trends (NASDAQ:CTRN) Rating Lowered to “Hold” at Wall Street Zen

Citi Trends (NASDAQ:CTRN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also recently issued reports on the company. DA Davidson reaffirmed a “buy” rating and set a $68.00 target price on shares of Citi Trends in a research report on Wednesday, June 3rd. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Citi Trends Stock Performance

Shares of NASDAQ CTRN opened at $60.66 on Friday. The stock has a market cap of $505.30 million, a price-to-earnings ratio of 43.64 and a beta of 1.88. Citi Trends has a fifty-two week low of $28.25 and a fifty-two week high of $63.10. The firm’s 50-day simple moving average is $46.87 and its 200 day simple moving average is $45.57.

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

Insider Activity at Citi Trends

In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of Citi Trends stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director owned 14,163 shares of the company’s stock, valued at $650,223.33. This trade represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citi Trends

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after acquiring an additional 619 shares during the period. New York State Common Retirement Fund grew its stake in Citi Trends by 175.0% in the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the period. Kemnay Advisory Services Inc. bought a new position in Citi Trends in the 4th quarter valued at $51,000. Meeder Asset Management Inc. increased its position in shares of Citi Trends by 277.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Citi Trends by 7,843.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after purchasing an additional 6,275 shares during the last quarter.

About Citi Trends

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.