Citi Trends (NASDAQ:CTRN) Given New $43.00 Price Target at DA Davidson

Key Points

• DA Davidson has raised the price target for Citi Trends (NASDAQ:CTRN) from $40.00 to $43.00, indicating a potential upside of 26.66% from the stock's previous close.
• After Citi Trends' recent quarterly earnings report, which showed an EPS of $0.17, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating.
• In recent activity, insider Katrina George sold 750 shares of Citi Trends, decreasing her ownership stake by 10.87%, while multiple institutional investors have increased their stakes in the company.

Citi Trends (NASDAQ:CTRN - Get Free Report) had its price target increased by analysts at DA Davidson from $40.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's price target points to a potential upside of 26.66% from the company's previous close.

Separately, Wall Street Zen downgraded Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $39.50.

Citi Trends Price Performance

Shares of NASDAQ:CTRN opened at $33.95 on Wednesday. Citi Trends has a 1 year low of $13.65 and a 1 year high of $39.17. The firm has a market capitalization of $281.58 million, a price-to-earnings ratio of -7.27 and a beta of 2.05. The business's 50 day moving average price is $31.21 and its 200-day moving average price is $26.66.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.36. Citi Trends had a negative return on equity of 27.90% and a negative net margin of 5.06%.The firm had revenue of $201.73 million during the quarter, compared to the consensus estimate of $195.76 million. During the same period in the prior year, the company earned ($0.32) EPS.

Insiders Place Their Bets

In other Citi Trends news, VP Katrina George sold 750 shares of Citi Trends stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $33.94, for a total value of $25,455.00. Following the completion of the transaction, the vice president directly owned 6,150 shares of the company's stock, valued at $208,731. The trade was a 10.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citi Trends

Several institutional investors have recently bought and sold shares of CTRN. Wells Fargo & Company MN boosted its stake in shares of Citi Trends by 22.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock valued at $98,000 after buying an additional 695 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Citi Trends in the 4th quarter valued at about $225,000. Barclays PLC boosted its stake in shares of Citi Trends by 2.5% in the 4th quarter. Barclays PLC now owns 26,595 shares of the company's stock valued at $699,000 after buying an additional 642 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Citi Trends in the 4th quarter valued at about $105,000. Finally, Northern Trust Corp boosted its stake in shares of Citi Trends by 5.1% in the 4th quarter. Northern Trust Corp now owns 77,013 shares of the company's stock valued at $2,022,000 after buying an additional 3,726 shares during the period.

Citi Trends Company Profile

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.

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