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

Key Points

• Citi Trends has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive outlook for the stock.
• Analyst DA Davidson has increased their price target for Citi Trends shares from $40.00 to $43.00, while the company's average rating remains a "hold" with a consensus price target of $39.50.
• Insider activity includes a director selling 1,000 shares at $36.21, decreasing their ownership by 5.83%, which may indicate differing confidence levels among executives.

Citi Trends (NASDAQ:CTRN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other analysts also recently issued reports about the company. DA Davidson upped their price objective on Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Citi Trends in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.50.

Citi Trends Stock Performance

Citi Trends stock opened at $35.56 on Friday. Citi Trends has a fifty-two week low of $16.18 and a fifty-two week high of $39.37. The company has a market capitalization of $295.50 million, a P/E ratio of -17.78 and a beta of 2.19. The stock has a 50-day simple moving average of $33.81 and a 200-day simple moving average of $29.35.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its earnings results on Tuesday, January 12th. The company reported $1.22 earnings per share for the quarter. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.The business had revenue of $251.92 million during the quarter. Citi Trends has set its FY 2020 Pre-Market guidance at 1.85-1.95 EPS. Q4 2020 Pre-Market guidance at 1.22-1.32 EPS.

Insider Activity

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

Hedge Funds Weigh In On Citi Trends

A number of large investors have recently modified their holdings of the business. CWM LLC raised its stake in shares of Citi Trends by 758.3% during the 3rd quarter. CWM LLC now owns 2,678 shares of the company's stock worth $83,000 after buying an additional 2,366 shares in the last quarter. State of Wyoming raised its stake in shares of Citi Trends by 7.0% during the 2nd quarter. State of Wyoming now owns 7,160 shares of the company's stock worth $239,000 after buying an additional 469 shares in the last quarter. General Equity Holdings LP raised its stake in shares of Citi Trends by 2.1% during the 2nd quarter. General Equity Holdings LP now owns 172,229 shares of the company's stock worth $5,751,000 after buying an additional 3,461 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Citi Trends during the 2nd quarter worth approximately $742,000. Finally, Bank of America Corp DE raised its stake in shares of Citi Trends by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company's stock worth $208,000 after buying an additional 342 shares in 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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