Citi Trends (NASDAQ:CTRN) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $45.03 and traded as high as $45.69. Citi Trends shares last traded at $45.66, with a volume of 79,547 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on CTRN shares. DA Davidson reissued a “buy” rating and set a $68.00 target price on shares of Citi Trends in a research report on Wednesday, June 3rd. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Citi Trends has an average rating of “Moderate Buy” and an average price target of $68.00.

Citi Trends Stock Up 5.6%

The firm has a market capitalization of $421.83 million, a PE ratio of 36.43 and a beta of 1.88. The company’s 50-day simple moving average is $45.48 and its 200 day simple moving average is $45.11.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. The firm had revenue of $230.86 million for the quarter, compared to the consensus estimate of $217.42 million. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. During the same quarter in the previous year, the firm earned $0.11 EPS.

Insider Transactions at Citi Trends

In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of Citi Trends stock in a transaction on Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. The trade was a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Citi Trends

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position 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 buying an additional 619 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after acquiring an additional 700 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Citi Trends during the fourth quarter valued at about $51,000. Meeder Asset Management Inc. raised its position 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 purchasing an additional 1,211 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Citi Trends by 7,843.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after purchasing an additional 6,275 shares during 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.