Wall Street Zen Downgrades Citi Trends (NASDAQ:CTRN) to Hold

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

Separately, DA Davidson reiterated a "buy" rating and issued a $29.00 target price on shares of Citi Trends in a research note on Wednesday, March 19th.

Citi Trends Stock Down 5.9%

NASDAQ:CTRN opened at $30.18 on Friday. The company has a fifty day moving average of $24.73 and a 200-day moving average of $24.57. The firm has a market capitalization of $249.83 million, a P/E ratio of -9.83 and a beta of 1.94. Citi Trends has a twelve month low of $13.66 and a twelve month high of $34.63.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.17 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $195.76 million. During the same quarter in the previous year, the business posted ($0.32) EPS.

Insider Buying and Selling at Citi Trends

In related news, VP Katrina George sold 750 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the sale, the vice president now directly owns 6,150 shares of the company's stock, valued at $208,731. This trade represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Citi Trends in the fourth quarter valued at approximately $235,000. Ameriprise Financial Inc. grew its position in Citi Trends by 0.7% during the fourth quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock valued at $5,221,000 after acquiring an additional 1,400 shares during the last quarter. Geode Capital Management LLC grew its position in Citi Trends by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after acquiring an additional 3,086 shares during the last quarter. Wells Fargo & Company MN grew its position in 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 acquiring an additional 695 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Citi Trends during the fourth quarter valued at approximately $284,000.

About Citi Trends

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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