ValuEngine Lowers Centric Brands (NASDAQ:CTRC) to Hold

ValuEngine downgraded shares of Centric Brands (NASDAQ:CTRC) from a buy rating to a hold rating in a research note issued to investors on Friday morning, ValuEngine reports.

NASDAQ CTRC opened at $2.83 on Friday. The company has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $3.65. The company has a quick ratio of 0.25, a current ratio of 0.76 and a debt-to-equity ratio of 304.20. Centric Brands has a 12-month low of $2.43 and a 12-month high of $6.00. The stock has a market capitalization of $166.22 million, a PE ratio of -0.47 and a beta of -0.94.

Centric Brands (NASDAQ:CTRC) last issued its quarterly earnings data on Monday, May 20th. The company reported ($1.40) earnings per share for the quarter. Centric Brands had a negative return on equity of 1,914.94% and a negative net margin of 18.67%. The firm had revenue of $528.90 million during the quarter. As a group, equities analysts anticipate that Centric Brands will post -1.18 EPS for the current year.

Several institutional investors have recently modified their holdings of CTRC. BlackRock Inc. lifted its stake in shares of Centric Brands by 10,489.3% in the second quarter. BlackRock Inc. now owns 748,771 shares of the company’s stock worth $3,078,000 after buying an additional 741,700 shares during the last quarter. Blackstone Group Inc lifted its stake in shares of Centric Brands by 1.2% in the second quarter. Blackstone Group Inc now owns 26,219,501 shares of the company’s stock worth $107,762,000 after buying an additional 300,080 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Centric Brands in the fourth quarter worth $327,000. Vanguard Group Inc. lifted its stake in shares of Centric Brands by 10.8% in the second quarter. Vanguard Group Inc. now owns 658,275 shares of the company’s stock worth $2,705,000 after buying an additional 64,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Centric Brands in the fourth quarter worth $197,000. Institutional investors and hedge funds own 54.73% of the company’s stock.

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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