Citi Trends’ (CTRN) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of Citi Trends (NASDAQ:CTRN) in a research report released on Wednesday,Benzinga reports. DA Davidson currently has a $29.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Monday, February 10th. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th.

Citi Trends Stock Down 4.1 %

NASDAQ:CTRN opened at $21.26 on Wednesday. The stock has a market cap of $185.17 million, a price-to-earnings ratio of -6.93 and a beta of 2.29. The company’s 50 day moving average price is $25.29 and its 200-day moving average price is $22.07. Citi Trends has a 52 week low of $13.66 and a 52 week high of $29.41.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, March 18th. The company reported ($1.55) EPS for the quarter, missing the consensus estimate of $0.18 by ($1.73). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The business had revenue of $211.17 million for the quarter, compared to analysts’ expectations of $211.54 million. During the same quarter in the prior year, the business posted $0.53 earnings per share.

Insider Activity at Citi Trends

In related news, Director Jonathan Duskin sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares in the company, valued at approximately $882,990.24. The trade was a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRN. Two Sigma Advisers LP grew its position in shares of Citi Trends by 10.6% during the 4th quarter. Two Sigma Advisers LP now owns 99,000 shares of the company’s stock valued at $2,599,000 after acquiring an additional 9,500 shares during the period. Shay Capital LLC increased its position in Citi Trends by 40.1% in the fourth quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after buying an additional 102,958 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Citi Trends in the fourth quarter worth about $214,000. Millennium Management LLC purchased a new position in shares of Citi Trends during the 4th quarter valued at about $235,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Citi Trends by 10.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,419 shares of the company’s stock valued at $2,163,000 after buying an additional 7,931 shares in the last quarter.

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.