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

Wall Street Zen cut shares of Citi Trends (NASDAQ:CTRN) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

CTRN has been the subject of a number of other reports. DA Davidson set a $81.00 price target on Citi Trends in a research note on Wednesday, August 26th. Weiss Ratings lowered shares of Citi Trends from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Citi Trends Stock Down 0.7%

CTRN stock opened at $60.20 on Friday. The business’s fifty day moving average is $67.47 and its 200-day moving average is $54.76. The company has a market cap of $502.07 million, a P/E ratio of 73.41 and a beta of 1.82. Citi Trends has a twelve month low of $29.60 and a twelve month high of $77.91.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.37. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%.The business had revenue of $211.63 million for the quarter, compared to analyst estimates of $211.60 million.

Insider Buying and Selling at Citi Trends

In other news, EVP Lisa Powell sold 10,000 shares of Citi Trends stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $70.10, for a total transaction of $701,000.00. Following the transaction, the executive vice president owned 13,970 shares in the company, valued at $979,297. The trade was a 41.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by company insiders.

Institutional Trading of Citi Trends

Several hedge funds have recently bought and sold shares of CTRN. BlackRock Inc. acquired a new position in shares of Citi Trends in the second quarter valued at approximately $29,400,000. AWM Investment Company Inc. acquired a new stake in shares of Citi Trends during the second quarter worth $7,758,000. Panoramic Capital LLC bought a new stake in Citi Trends in the 2nd quarter valued at $7,085,000. Hodges Capital Management Inc. lifted its position in Citi Trends by 12.7% in the 1st quarter. Hodges Capital Management Inc. now owns 125,100 shares of the company’s stock valued at $5,419,000 after acquiring an additional 14,100 shares in the last quarter. Finally, Miller Value Partners LLC acquired a new position in Citi Trends in the 2nd quarter worth $3,135,000.

Citi Trends Company Profile

Citi Trends, Inc is a value-focused specialty retailer serving predominantly African American and Latinx families and communities in the United States. The company operates stores under the Citi Trends banner and offers affordable merchandise for women, men and children.

Its product assortment includes apparel, footwear, accessories, beauty products, home décor, toys, and other seasonal and lifestyle merchandise. Citi Trends emphasizes frequently changing selections and value-oriented prices across its stores and online retail channel.

The company traces its roots to 1946 and has expanded from its origins as a regional retailer into a national chain serving customers primarily in urban and densely populated communities across the United States.