Citi Trends (NASDAQ:CTRN) Upgraded at Wall Street Zen

Citi Trends (NASDAQ:CTRN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson restated a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a research report on Wednesday, March 19th. Craig Hallum upgraded shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price objective on the stock in a research report on Monday, February 10th.

Citi Trends Trading Up 1.7%

CTRN traded up $0.58 during trading hours on Friday, hitting $33.83. The company's stock had a trading volume of 119,006 shares, compared to its average volume of 123,957. The business's 50-day moving average price is $23.44 and its 200-day moving average price is $24.08. Citi Trends has a 12 month low of $13.66 and a 12 month high of $34.50. The stock has a market cap of $280.04 million, a price-to-earnings ratio of -11.02 and a beta of 1.94.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.36. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The company had revenue of $201.73 million for the quarter, compared to analysts' expectations of $195.76 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTRN. Hsbc Holdings PLC boosted its stake in shares of Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company's stock valued at $223,000 after purchasing an additional 488 shares during the period. Barclays PLC boosted its stake in shares of Citi Trends by 2.5% during the fourth quarter. Barclays PLC now owns 26,595 shares of the company's stock valued at $699,000 after purchasing an additional 642 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Citi Trends by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 3,745 shares of the company's stock valued at $98,000 after purchasing an additional 695 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Citi Trends by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company's stock valued at $359,000 after purchasing an additional 717 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of Citi Trends by 5.0% during the fourth quarter. Empowered Funds LLC now owns 25,278 shares of the company's stock valued at $664,000 after purchasing an additional 1,195 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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