Citi Trends (NASDAQ:CTRN) Downgraded by Wall Street Zen to “Hold”

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,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. DA Davidson set a $81.00 target price on shares of Citi Trends in a report on Wednesday, August 26th. Weiss Ratings downgraded 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 given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Citi Trends Price Performance

Shares of CTRN opened at $60.62 on Friday. Citi Trends has a 1 year low of $29.60 and a 1 year high of $77.91. The stock has a 50 day simple moving average of $67.37 and a two-hundred day simple moving average of $54.58. The firm has a market cap of $505.57 million, a P/E ratio of 73.93 and a beta of 1.82.

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

Insider Transactions at Citi Trends

In other Citi Trends news, EVP Lisa Powell sold 10,000 shares of Citi Trends stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $70.10, for a total value of $701,000.00. Following the transaction, the executive vice president directly owned 13,970 shares of the company’s stock, valued at $979,297. The trade was a 41.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.

Institutional Trading of Citi Trends

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Citi Trends in the second quarter worth approximately $30,000. Allworth Financial LP purchased a new position in shares of Citi Trends in the second quarter worth $31,000. BNP Paribas Financial Markets raised its holdings in Citi Trends by 143.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 619 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Citi Trends by 175.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after buying an additional 700 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Citi Trends during the 4th quarter valued at $51,000.

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.