BidaskClub Downgrades Citi Trends (CTRN) to Buy

BidaskClub downgraded shares of Citi Trends (NASDAQ:CTRN) from a strong-buy rating to a buy rating in a report published on Saturday, January 6th.

Separately, TheStreet upgraded shares of Citi Trends from a c+ rating to a b- rating in a research report on Monday, October 16th.

Shares of Citi Trends (NASDAQ:CTRN) traded down $0.53 during mid-day trading on Friday, hitting $25.04. 129,100 shares of the company traded hands, compared to its average volume of 114,967. The company has a market cap of $344.05, a P/E ratio of 24.55 and a beta of 0.51. Citi Trends has a 1-year low of $15.54 and a 1-year high of $28.12.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.05 earnings per share (EPS) for the quarter. Citi Trends had a net margin of 2.04% and a return on equity of 7.70%. The firm had revenue of $176.90 million during the quarter, compared to the consensus estimate of $171.30 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year.

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP purchased a new stake in shares of Citi Trends in the third quarter valued at about $216,000. Goldman Sachs Group Inc. purchased a new stake in shares of Citi Trends in the second quarter valued at about $242,000. The Manufacturers Life Insurance Company raised its holdings in shares of Citi Trends by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 13,014 shares of the company’s stock valued at $276,000 after purchasing an additional 959 shares during the last quarter. Thrivent Financial For Lutherans purchased a new stake in shares of Citi Trends in the second quarter valued at about $400,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Citi Trends by 129.7% in the third quarter. Wells Fargo & Company MN now owns 22,617 shares of the company’s stock valued at $449,000 after purchasing an additional 12,770 shares during the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

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Citi Trends Company Profile

Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.

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