Citi Trends (NASDAQ:CTRN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Citi Trends, Inc. (NASDAQ:CTRN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.48 and traded as high as $42.68. Citi Trends shares last traded at $42.38, with a volume of 57,786 shares.

Analysts Set New Price Targets

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

Citi Trends Stock Up 1.2%

The business has a 50-day simple moving average of $44.00 and a 200-day simple moving average of $37.48. The stock has a market cap of $353.87 million, a P/E ratio of -21.19 and a beta of 2.08.

Citi Trends (NASDAQ:CTRN) last issued 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). Citi Trends had a negative return on equity of 22.84% and a negative net margin of 2.05%.The firm had revenue of $197.09 million during the quarter, compared to analyst estimates of $187.33 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Citi Trends in the first quarter worth $204,000. AlphaQuest LLC boosted its holdings in Citi Trends by 27.0% in the 2nd quarter. AlphaQuest LLC now owns 9,313 shares of the company’s stock valued at $311,000 after purchasing an additional 1,978 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Citi Trends in the 2nd quarter worth $227,000. Los Angeles Capital Management LLC bought a new position in shares of Citi Trends during the 2nd quarter worth about $733,000. Finally, Hodges Capital Management Inc. acquired a new position in shares of Citi Trends during the second quarter valued at about $250,000.

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.