Citi Trends (NASDAQ:CTRN) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Citi Trends, Inc. (NASDAQ:CTRN) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $52.63 and traded as high as $58.10. Citi Trends shares last traded at $57.78, with a volume of 214,393 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on CTRN shares. DA Davidson set a $81.00 price target on shares of Citi Trends in a research note on Wednesday, August 26th. Weiss Ratings raised Citi Trends from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Wall Street Zen downgraded Citi Trends from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Citi Trends Stock Performance

The firm has a market cap of $481.89 million, a P/E ratio of 70.46 and a beta of 1.85. The firm’s fifty day moving average price is $54.61 and its 200 day moving average price is $52.63.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.37. Citi Trends had a net margin of 0.84% and a return on equity of 8.11%. The firm had revenue of $211.63 million during the quarter, compared to analysts’ expectations of $211.60 million.

Insider Buying and Selling

In related news, EVP Lisa Powell sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the completion of the transaction, the executive vice president owned 13,970 shares of the company’s stock, valued at $979,297. The trade was a 41.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Katrina George sold 500 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $50.57, for a total value of $25,285.00. Following the sale, the vice president owned 5,213 shares of the company’s stock, valued at approximately $263,621.41. This represents a 8.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Citi Trends

A number of hedge funds have recently made changes to their positions in CTRN. Legal & General Group Plc bought a new stake in Citi Trends during the second quarter valued at about $30,000. Allworth Financial LP bought a new position in Citi Trends in the second quarter worth about $31,000. Integrated Wealth Concepts LLC bought a new position in Citi Trends in the second quarter worth about $62,000. State of Wyoming bought a new position in Citi Trends in the second quarter worth about $83,000. Finally, Group One Trading LLC purchased a new stake in shares of Citi Trends during the second quarter valued at about $94,000.

About Citi Trends

Citi Trends, Inc is a value-oriented retailer focused on apparel, accessories and home-related merchandise for African American and Latinx families. The company operates under the Citi Trends name and offers products designed to reflect current fashion and lifestyle trends at accessible prices.

Its merchandise assortment includes clothing, footwear and accessories for women, men and children, as well as infant and toddler items. Citi Trends also sells beauty products, toys, home décor and other household merchandise.