Citi Trends (NASDAQ:CTRN) Price Target Raised to $28.00 at DA Davidson

Citi Trends (NASDAQ:CTRN) had its price objective increased by equities researchers at DA Davidson from $20.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 11.69% from the stock’s current price.

A number of other brokerages have also recently commented on CTRN. StockNews.com raised Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Craig Hallum increased their price objective on Citi Trends from $14.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday.

Citi Trends Stock Up 5.3 %

Shares of NASDAQ CTRN traded up $1.27 during trading on Wednesday, hitting $25.07. The company had a trading volume of 37,665 shares, compared to its average volume of 122,332. The firm has a market capitalization of $216.10 million, a price-to-earnings ratio of -9.35 and a beta of 2.36. The stock has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $19.01. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Citi Trends by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company’s stock worth $12,938,000 after purchasing an additional 37,107 shares during the period. Long Focus Capital Management LLC lifted its holdings in Citi Trends by 24.9% in the second quarter. Long Focus Capital Management LLC now owns 250,673 shares of the company’s stock valued at $5,329,000 after acquiring an additional 50,000 shares during the last quarter. Royce & Associates LP grew its position in Citi Trends by 5.4% in the third quarter. Royce & Associates LP now owns 196,110 shares of the company’s stock worth $3,603,000 after acquiring an additional 10,000 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Citi Trends during the third quarter worth $1,723,000. Finally, Anchor Capital Advisors LLC increased its stake in Citi Trends by 11.3% during the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company’s stock worth $1,111,000 after acquiring an additional 5,307 shares during 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.