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

Wall Street Zen lowered shares of Citi Trends (NASDAQ:CTRN) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other research firms have also recently weighed in on CTRN. DA Davidson set a $43.00 price target on Citi Trends and gave the company a “buy” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Citi Trends presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Citi Trends Stock Up 0.1%

Shares of NASDAQ CTRN opened at $42.91 on Monday. Citi Trends has a fifty-two week low of $16.82 and a fifty-two week high of $49.50. The business has a 50 day moving average price of $40.06 and a two-hundred day moving average price of $34.94. The firm has a market cap of $358.30 million, a PE ratio of -21.46 and a beta of 2.16.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, December 2nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). Citi Trends had a negative net margin of 2.05% and a negative return on equity of 22.84%. The company had revenue of $197.09 million during the quarter, compared to analyst estimates of $187.33 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Citi Trends by 10.2% in the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after purchasing an additional 34,450 shares during the period. AWM Investment Company Inc. boosted its stake in Citi Trends by 1.6% in the 1st quarter. AWM Investment Company Inc. now owns 232,477 shares of the company’s stock valued at $5,146,000 after buying an additional 3,694 shares in the last quarter. General Equity Holdings LP grew its position in Citi Trends by 2.1% in the second quarter. General Equity Holdings LP now owns 172,229 shares of the company’s stock valued at $5,751,000 after acquiring an additional 3,461 shares during the period. Marshall Wace LLP grew its position in Citi Trends by 269.2% in the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after acquiring an additional 116,722 shares during the period. Finally, UBS Group AG raised its stake in Citi Trends by 478.3% during the third quarter. UBS Group AG now owns 122,631 shares of the company’s stock worth $3,805,000 after acquiring an additional 101,426 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.