Citi Trends (NASDAQ:CTRN) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen downgraded shares of Citi Trends (NASDAQ:CTRN - Free Report) from a buy rating to a hold rating in a research note published on Saturday.

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

Citi Trends Trading Down 0.3%

Shares of CTRN traded down $0.09 during midday trading on Friday, reaching $29.78. 74,128 shares of the stock were exchanged, compared to its average volume of 123,443. Citi Trends has a 52 week low of $13.66 and a 52 week high of $34.63. The company's 50 day moving average is $25.15 and its two-hundred day moving average is $24.73. The company has a market capitalization of $246.88 million, a P/E ratio of -6.38 and a beta of 1.94.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.36. Citi Trends had a negative net margin of 5.06% and a negative return on equity of 27.90%. The firm had revenue of $201.73 million for the quarter, compared to the consensus estimate of $195.76 million. During the same period last year, the firm earned ($0.32) earnings per share.

Insider Buying and Selling

In related news, VP Katrina George sold 750 shares of Citi Trends 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 completion of the sale, the vice president now directly owns 6,150 shares in the company, valued at $208,731. This trade represents a 10.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in shares of Citi Trends during the fourth quarter worth about $235,000. Bank of America Corp DE lifted its stake in Citi Trends by 29.5% during the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock valued at $231,000 after acquiring an additional 2,003 shares during the period. Ameriprise Financial Inc. lifted its stake in Citi Trends by 0.7% during the 4th 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 period. Geode Capital Management LLC lifted its stake in Citi Trends by 1.9% during the 4th 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 period. Finally, Wells Fargo & Company MN lifted 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 purchasing an additional 695 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.