Citi Trends (NASDAQ:CTRN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Citi Trends, Inc. (NASDAQ:CTRN) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $41.93 and traded as high as $48.11. Citi Trends shares last traded at $45.82, with a volume of 142,057 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTRN. Wall Street Zen lowered shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, January 21st. Craig Hallum restated a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Finally, DA Davidson set a $68.00 target price on shares of Citi Trends in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.00.

Citi Trends Trading Up 4.6%

The stock’s 50-day simple moving average is $45.54 and its 200-day simple moving average is $42.02. The firm has a market capitalization of $370.66 million, a P/E ratio of 75.24 and a beta of 2.04.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.85%. The business had revenue of $230.39 million during the quarter, compared to the consensus estimate of $227.42 million.

Insider Transactions at Citi Trends

In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the sale, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Citi Trends by 143.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Citi Trends by 175.0% during the 4th 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 period. Kemnay Advisory Services Inc. bought a new position in shares of Citi Trends during the 4th quarter valued at approximately $51,000. Meeder Asset Management Inc. grew its position in shares of Citi Trends by 277.1% during the 4th 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 period. Finally, CWM LLC grew its position in shares of Citi Trends by 758.3% during the 3rd quarter. CWM LLC now owns 2,678 shares of the company’s stock valued at $83,000 after acquiring an additional 2,366 shares during the period.

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.