Citi Trends (NASDAQ:CTRN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Separately, ValuEngine lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th.

NASDAQ:CTRN opened at $26.43 on Thursday. Citi Trends has a 12 month low of $19.60 and a 12 month high of $34.90. The company has a market capitalization of $373.30 million, a PE ratio of 20.98 and a beta of 0.42.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.17. Citi Trends had a net margin of 2.61% and a return on equity of 10.59%. The company had revenue of $182.00 million for the quarter, compared to analyst estimates of $178.50 million. During the same quarter last year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Citi Trends will post 1.7 EPS for the current year.

In related news, SVP Ivy D. Council sold 5,734 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $32.44, for a total transaction of $186,010.96. Following the transaction, the senior vice president now owns 77,261 shares of the company’s stock, valued at $2,506,346.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivy D. Council sold 3,723 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $33.02, for a total transaction of $122,933.46. Following the transaction, the senior vice president now directly owns 77,261 shares in the company, valued at approximately $2,551,158.22. The disclosure for this sale can be found here. In the last three months, insiders sold 20,257 shares of company stock worth $660,268. Insiders own 8.41% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new position in Citi Trends during the second quarter worth $262,000. Element Capital Management LLC bought a new position in Citi Trends during the first quarter worth $291,000. Engineers Gate Manager LP bought a new position in Citi Trends during the second quarter worth $358,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Citi Trends during the second quarter worth $403,000. Finally, American Century Companies Inc. bought a new position in Citi Trends during the second quarter worth $421,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

About Citi Trends

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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