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

Key Points

• Citi Trends, Inc.'s shares have surpassed their 200-day moving average, currently trading at $31.80, with a high of $32.09 on Tuesday.
• Analysts have recently downgraded the stock from a "buy" to a "hold" rating, reflecting concerns over its performance.
• Despite a negative P/E ratio of -6.81, Citi Trends reported positive earnings of $0.17 per share for its last quarter, exceeding expectations.

Shares of Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.14 and traded as high as $32.09. Citi Trends shares last traded at $31.80, with a volume of 51,037 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Citi Trends from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

Citi Trends Trading Down 2.2%

The company has a market capitalization of $265.03 million, a P/E ratio of -6.85 and a beta of 2.05. The business's 50-day simple moving average is $31.10 and its 200 day simple moving average is $26.27.

Citi Trends (NASDAQ:CTRN - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.36. The company had revenue of $201.73 million for the quarter, compared to analysts' expectations of $195.76 million. Citi Trends had a negative net margin of 5.06% and a negative return on equity of 27.90%. During the same quarter in the previous year, the company posted ($0.32) EPS.

Insider Buying and Selling

In related news, VP Katrina George sold 750 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total transaction of $25,455.00. Following the transaction, the vice president directly owned 6,150 shares of the company's stock, valued at approximately $208,731. The trade was a 10.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.70% of the company's stock.

Institutional Trading of Citi Trends

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in Citi Trends in the fourth quarter valued at approximately $235,000. Bank of America Corp DE raised its stake in Citi Trends by 29.5% during the 4th quarter. Bank of America Corp DE now owns 8,801 shares of the company's stock valued at $231,000 after purchasing an additional 2,003 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Citi Trends by 0.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,887 shares of the company's stock valued at $5,221,000 after buying an additional 1,400 shares during the period. GAMMA Investing LLC bought a new stake in Citi Trends in the 1st quarter valued at $63,000. Finally, Geode Capital Management LLC increased its holdings in Citi Trends by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 166,558 shares of the company's stock valued at $4,373,000 after buying an additional 3,086 shares during the period.

Citi Trends Company Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.