Citi Trends Inc. (NASDAQ:CTRN) shares were down 3.8% on Thursday . The stock traded as low as $16.62 and last traded at $16.68, with a volume of 54,586 shares. The stock had previously closed at $17.34.

Several research analysts have weighed in on CTRN shares. Zacks Investment Research upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. SunTrust Banks Inc. lowered their target price on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. MKM Partners lowered their target price on shares of Citi Trends from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 18th. Finally, Sidoti started coverage on shares of Citi Trends in a research report on Tuesday, April 5th. They set a “neutral” rating and a $20.00 target price on the stock.

The firm has a market cap of $245.91 million and a P/E ratio of 19.30. The stock’s 50 day moving average is $16.07 and its 200 day moving average is $17.71.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Wednesday, May 18th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.16. The firm had revenue of $193.70 million for the quarter, compared to the consensus estimate of $198.53 million. During the same quarter in the prior year, the firm posted $0.74 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Citi Trends Inc. will post $0.91 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Shell Asset Management Co. purchased a new stake in shares of Citi Trends during the fourth quarter valued at $1,574,000. Systematic Financial Management LP increased its stake in shares of Citi Trends by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 88,142 shares of the company’s stock valued at $1,873,000 after buying an additional 530 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Citi Trends by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 107,169 shares of the company’s stock valued at $2,277,000 after buying an additional 1,700 shares in the last quarter. Royce & Associates LLC increased its stake in shares of Citi Trends by 53.5% in the fourth quarter. Royce & Associates LLC now owns 214,673 shares of the company’s stock valued at $4,562,000 after buying an additional 74,800 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in shares of Citi Trends by 2,477.4% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 773,213 shares of the company’s stock valued at $16,430,000 after buying an additional 743,213 shares in the last quarter.

Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s stores average approximately 10,800 square feet of selling space and are located in shopping centers. As of January 31, 2015, the Company operated 511 stores in both urban and rural markets in 29 states. The Company offers products under its brands, such as Citi Steps, Red Ape, Vintage Harlem and Lil Ms Hollywood.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.