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

Citi Trends, Inc. (NASDAQ:CTRN)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.37 and traded as high as $45.82. Citi Trends shares last traded at $43.53, with a volume of 62,883 shares changing hands.

Analysts Set New Price Targets

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

Citi Trends Stock Down 2.5%

The firm has a market cap of $363.26 million, a price-to-earnings ratio of 73.78 and a beta of 2.06. The company’s fifty day moving average is $45.74 and its 200 day moving average is $41.37.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $230.39 million for the quarter, compared to analyst estimates of $227.42 million.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in Citi Trends by 143.3% in the third 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 in the last quarter. New York State Common Retirement Fund raised its stake 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 worth $46,000 after purchasing an additional 700 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Citi Trends during the 4th quarter worth approximately $51,000. Meeder Asset Management Inc. boosted its holdings in shares of Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after buying an additional 1,211 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Citi Trends by 758.3% in the 3rd quarter. CWM LLC now owns 2,678 shares of the company’s stock valued at $83,000 after buying an additional 2,366 shares during 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.