Citi Trends (NASDAQ:CTRN) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Citi Trends, Inc. (NASDAQ:CTRN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.96 and traded as high as $47.44. Citi Trends shares last traded at $46.91, with a volume of 131,936 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTRN shares. DA Davidson set a $55.00 target price on Citi Trends in a research note on Tuesday, January 13th. Wall Street Zen lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.50.

Citi Trends Trading Up 0.1%

The company has a market capitalization of $391.70 million, a P/E ratio of -23.46 and a beta of 2.08. The business has a 50 day moving average price of $43.54 and a 200 day moving average price of $36.96.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). The firm had revenue of $197.09 million for 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 Trading of Citi Trends

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

About Citi Trends

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.