Citi Trends (NASDAQ:CTRN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Citi Trends, Inc. (NASDAQ:CTRN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $38.55 and traded as high as $47.00. Citi Trends shares last traded at $44.54, with a volume of 59,360 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTRN. DA Davidson set a $55.00 price target on shares of Citi Trends in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut Citi Trends from a “buy” rating to a “hold” rating in a research note on Monday, December 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Citi Trends Stock Down 3.4%

The stock has a market cap of $371.91 million, a P/E ratio of -22.27 and a beta of 2.12. The company’s 50 day moving average price is $44.25 and its 200-day moving average price is $38.55.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The company had revenue of $197.09 million during the quarter, compared to analyst estimates of $187.33 million. Citi Trends had a negative net margin of 2.05% and a negative return on equity of 22.84%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after purchasing an additional 619 shares during the last quarter. New York State Common Retirement Fund boosted its position in Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after acquiring an additional 700 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Citi Trends by 277.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after acquiring an additional 1,211 shares during the last quarter. CWM LLC grew its holdings in Citi Trends by 758.3% during the 3rd quarter. CWM LLC now owns 2,678 shares of the company’s stock worth $83,000 after acquiring an additional 2,366 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Citi Trends by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after acquiring an additional 342 shares in the last quarter.

Citi Trends Company Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.