Craig Hallum Boosts Citi Trends (NASDAQ:CTRN) Price Target to $20.00

Citi Trends (NASDAQ:CTRN) had its price objective hoisted by stock analysts at Craig Hallum from $14.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price target would indicate a potential downside of 16.67% from the company’s current price.

CTRN has been the topic of several other research reports. StockNews.com raised shares of Citi Trends from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. DA Davidson lowered their target price on shares of Citi Trends from $33.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th.

Citi Trends Stock Performance

NASDAQ CTRN opened at $24.00 on Wednesday. The business’s fifty day moving average is $19.13 and its 200 day moving average is $19.01. Citi Trends has a fifty-two week low of $13.65 and a fifty-two week high of $32.90. The company has a market capitalization of $206.88 million, a PE ratio of -8.96 and a beta of 2.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTRN. Quest Partners LLC purchased a new position in Citi Trends in the 3rd quarter worth about $40,000. Quantbot Technologies LP increased its position in shares of Citi Trends by 111.3% during the third quarter. Quantbot Technologies LP now owns 8,070 shares of the company’s stock worth $148,000 after acquiring an additional 4,250 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Citi Trends during the second quarter valued at approximately $208,000. Rhumbline Advisers grew its stake in Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company’s stock worth $224,000 after purchasing an additional 10,491 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Citi Trends in the third quarter worth approximately $193,000.

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.