Citi Trends (CTRN) Lowered to Sell at ValuEngine

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Citi Trends (NASDAQ:CTRN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other equities analysts have also recently commented on CTRN. BidaskClub cut Citi Trends from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Sidoti began coverage on Citi Trends in a report on Friday, February 22nd. They issued a “buy” rating and a $28.00 target price for the company.

NASDAQ:CTRN opened at $19.14 on Tuesday. Citi Trends has a 1 year low of $17.78 and a 1 year high of $34.90. The company has a market capitalization of $225.07 million, a price-to-earnings ratio of 11.67 and a beta of 0.45.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Friday, March 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Citi Trends had a return on equity of 10.67% and a net margin of 2.78%. The business had revenue of $201.16 million for the quarter, compared to the consensus estimate of $215.00 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Citi Trends will post 1.9 earnings per share for the current year.

In other news, SVP Christina Short sold 2,000 shares of Citi Trends stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $19.34, for a total value of $38,680.00. Following the completion of the transaction, the senior vice president now owns 9,324 shares in the company, valued at approximately $180,326.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.41% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in CTRN. Quantamental Technologies LLC purchased a new position in Citi Trends during the 4th quarter valued at $40,000. Legal & General Group Plc boosted its holdings in Citi Trends by 32.1% during the 4th quarter. Legal & General Group Plc now owns 2,542 shares of the company’s stock valued at $52,000 after acquiring an additional 618 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Citi Trends by 1,635.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the company’s stock valued at $54,000 after acquiring an additional 2,568 shares during the period. Meeder Asset Management Inc. boosted its holdings in Citi Trends by 5,948.3% during the 1st quarter. Meeder Asset Management Inc. now owns 3,508 shares of the company’s stock valued at $69,000 after acquiring an additional 3,450 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Citi Trends by 365.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,452 shares of the company’s stock valued at $111,000 after acquiring an additional 4,281 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

About Citi Trends

Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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