Citi Trends (NASDAQ:CTRN) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Citi Trends shares crossed above their 200-day moving average (200‑day MA $43.97), trading as high as $47.56 and last at $46.44 on volume of about 47,600, suggesting technical strength.
• The company beat the quarter with EPS $0.85 vs. $0.78 expected and revenue $230.39M vs. $227.42M, but profitability is slim (net margin 0.64%) and the stock trades at a high P/E of 78.7.
• Analysts are mixed—two Buy ratings and one Sell produce a MarketBeat consensus of Hold with a consensus target price of $68.00.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.97 and traded as high as $47.56. Citi Trends shares last traded at $46.44, with a volume of 47,593 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTRN. Weiss Ratings restated a "sell (d-)" rating on shares of Citi Trends in a research report on Monday, April 20th. DA Davidson set a $68.00 price objective on Citi Trends in a research report on Tuesday, March 17th. Finally, Craig Hallum reissued a "buy" rating on shares of Citi Trends in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $68.00.

Citi Trends Price Performance

The stock has a market cap of $387.31 million, a price-to-earnings ratio of 78.71 and a beta of 1.93. The stock's 50-day moving average is $46.60 and its 200-day moving average is $43.97.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Citi Trends had a negative return on equity of 4.78% and a net margin of 0.64%.The company had revenue of $230.39 million during the quarter, compared to the consensus estimate of $227.42 million.

Insider Buying and Selling

In related news, Director Margaret L. Jenkins sold 2,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director directly owned 14,163 shares in the company, valued at approximately $650,223.33. This represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.70% of the company's stock.

Institutional Trading of Citi Trends

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTRN. Bank of America Corp DE lifted its holdings in shares of Citi Trends by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company's stock worth $208,000 after acquiring an additional 342 shares during the period. Anchor Capital Advisors LLC grew its holdings in Citi Trends by 1.4% in the third quarter. Anchor Capital Advisors LLC now owns 28,599 shares of the company's stock valued at $887,000 after purchasing an additional 384 shares during the period. State of Wyoming grew its holdings in Citi Trends by 7.0% in the second 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 period. Strs Ohio increased its position in Citi Trends by 7.1% during the first quarter. Strs Ohio now owns 7,500 shares of the company's stock worth $325,000 after purchasing an additional 500 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Citi Trends by 4.5% during the fourth quarter. Hsbc Holdings PLC now owns 13,589 shares of the company's stock worth $559,000 after purchasing an additional 586 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.

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