Citi Trends (NASDAQ:CTRN) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Citi Trends' stock received a "sell (D-)" rating from Weiss Ratings, indicating a bearish outlook from this research firm.
• Despite the negative rating from Weiss, Citi Trends shares saw a 15% increase in value, trading up to $36.08 after the announcement.
• The company recently reported quarterly earnings, posting a loss of ($0.82) EPS, which was an improvement over the consensus estimate of ($1.01).

Citi Trends (NASDAQ:CTRN - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on CTRN. DA Davidson boosted their target price on shares of Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Citi Trends has a consensus rating of "Hold" and a consensus target price of $39.50.

Citi Trends Stock Up 15.0%

Shares of CTRN stock traded up $4.70 on Wednesday, reaching $36.08. The company had a trading volume of 179,099 shares, compared to its average volume of 98,046. The stock has a market capitalization of $299.82 million, a PE ratio of -18.04 and a beta of 2.19. Citi Trends has a one year low of $16.18 and a one year high of $39.37. The business's 50-day moving average is $33.02 and its 200 day moving average is $28.68.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.19. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.The company had revenue of $190.75 million during the quarter, compared to the consensus estimate of $188.20 million.

Insider Buying and Selling at Citi Trends

In related news, Director Margaret L. Jenkins sold 1,000 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the transaction, the director directly owned 16,163 shares of the company's stock, valued at $585,262.23. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.70% of the company's stock.

Institutional Investors Weigh In On Citi Trends

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in Citi Trends in the first quarter valued at $121,992,000. Royce & Associates LP lifted its stake in shares of Citi Trends by 34.8% during the 1st quarter. Royce & Associates LP now owns 248,356 shares of the company's stock worth $5,497,000 after purchasing an additional 64,178 shares during the period. AWM Investment Company Inc. increased its holdings in shares of Citi Trends by 1.6% during the 1st quarter. AWM Investment Company Inc. now owns 232,477 shares of the company's stock worth $5,146,000 after buying an additional 3,694 shares during the last quarter. General Equity Holdings LP raised its position in Citi Trends by 2.1% in the second quarter. General Equity Holdings LP now owns 172,229 shares of the company's stock valued at $5,751,000 after purchasing an additional 3,461 shares during the period. Finally, Marshall Wace LLP boosted its position in Citi Trends by 269.2% in the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company's stock valued at $5,345,000 after buying an additional 116,722 shares during the last quarter.

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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