Centric Brands (NASDAQ:CTRC) Raised to Buy at ValuEngine

Centric Brands (NASDAQ:CTRC) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Shares of CTRC traded up $0.07 during mid-day trading on Thursday, hitting $2.77. The company had a trading volume of 60,187 shares, compared to its average volume of 55,942. The business has a 50-day moving average of $3.40. The company has a current ratio of 0.77, a quick ratio of 0.25 and a debt-to-equity ratio of 304.20. Centric Brands has a 1-year low of $2.43 and a 1-year high of $6.00. The company has a market cap of $162.16 million, a PE ratio of -0.46 and a beta of -0.92.

Centric Brands (NASDAQ:CTRC) last released its earnings results on Monday, May 20th. The company reported ($1.40) earnings per share (EPS) for the quarter. Centric Brands had a negative return on equity of 424.90% and a negative net margin of 18.55%. The company had revenue of $528.90 million during the quarter. Research analysts forecast that Centric Brands will post -1.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTRC. Creative Planning purchased a new stake in Centric Brands during the 2nd quarter valued at about $206,000. Altfest L J & Co. Inc. grew its stake in Centric Brands by 24.1% during the 1st quarter. Altfest L J & Co. Inc. now owns 106,106 shares of the company’s stock valued at $477,000 after acquiring an additional 20,600 shares in the last quarter. Millennium Management LLC purchased a new stake in Centric Brands during the 4th quarter valued at about $75,000. Geode Capital Management LLC purchased a new stake in Centric Brands during the 4th quarter valued at about $327,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Centric Brands during the 4th quarter valued at about $197,000. 53.22% of the stock is currently owned by institutional investors and hedge funds.

About Centric Brands

Centric Brands Inc designs, produces, manages, and builds kid's wear, and women's and men's accessories and apparel, and distributes its products across various retail and digital channels in North America and international markets. The company also licenses approximately 100 brands across its core product categories, including kid's, women's, and men's accessories and apparel.

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