Citi Trends (NASDAQ:CTRN) Shares Pass Above 200 Day Moving Average – Here’s Why

Citi Trends, Inc. (NASDAQ:CTRN) shares crossed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Citi Trends Trading Down 0.9%

The company has a market capitalization of $353.46 million, a P/E ratio of 71.75 and a beta of 2.06. The company’s 50 day moving average is $45.57 and its 200-day moving average is $41.42.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 earnings per share 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 for the quarter, compared to analysts’ expectations of $227.42 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CTRN. Bank of America Corp DE increased its holdings in shares of Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after acquiring an additional 342 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in Citi Trends by 1.4% in the 3rd quarter. Anchor Capital Advisors LLC now owns 28,599 shares of the company’s stock worth $887,000 after purchasing an additional 384 shares in the last quarter. State of Wyoming grew its position in Citi Trends by 7.0% during the 2nd quarter. State of Wyoming now owns 7,160 shares of the company’s stock valued at $239,000 after purchasing an additional 469 shares during the last quarter. Hsbc Holdings PLC grew its position in Citi Trends by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock valued at $559,000 after purchasing an additional 586 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Citi Trends by 143.3% during the 3rd 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.

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.