Citi Trends (NASDAQ:CTRN) Stock Passes Above 200-Day Moving Average – What’s Next?

Citi Trends, Inc. (NASDAQ:CTRN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $38.01 and traded as high as $47.47. Citi Trends shares last traded at $45.61, with a volume of 104,290 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTRN. DA Davidson set a $55.00 target price on shares of Citi Trends in a report on Tuesday, January 13th. Wall Street Zen downgraded shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Citi Trends in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.50.

Citi Trends Stock Performance

The firm has a fifty day simple moving average of $44.17 and a 200 day simple moving average of $38.01. The company has a market cap of $380.84 million, a PE ratio of -22.81 and a beta of 2.12.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in Citi Trends by 269.2% during the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after buying an additional 116,722 shares in the last quarter. UBS Group AG raised its stake in shares of Citi Trends by 478.3% in the 3rd quarter. UBS Group AG now owns 122,631 shares of the company’s stock valued at $3,805,000 after acquiring an additional 101,426 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Citi Trends during the 3rd quarter valued at $2,778,000. Assenagon Asset Management S.A. purchased a new stake in Citi Trends during the 4th quarter worth $3,616,000. Finally, Invesco Ltd. increased its holdings in Citi Trends by 243.3% in the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after purchasing an additional 73,678 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.