Citi Trends (NASDAQ:CTRN) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Citi Trends' stock price recently surpassed its 200-day moving average of $25.97, peaking at $29.71 during trading.
• Wall Street analysts have downgraded Citi Trends from a "buy" to a "hold" rating, reflecting heightened caution among investors.
• The company's latest earnings report showed a surprising earnings per share (EPS) of $0.17, exceeding expectations and representing a significant improvement from a loss of $0.32 EPS in the same period last year.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.97 and traded as high as $29.71. Citi Trends shares last traded at $29.65, with a volume of 34,145 shares traded.

Wall Street Analysts Forecast Growth

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

Citi Trends Stock Performance

The firm has a market cap of $261.14 million, a P/E ratio of -6.74 and a beta of 2.05. The business's 50-day simple moving average is $30.99 and its 200 day simple moving average is $26.05.

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

Insider Activity at Citi Trends

In other news, VP Katrina George sold 750 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $33.94, for a total value of $25,455.00. Following the transaction, the vice president owned 6,150 shares in the company, valued at $208,731. This represents a 10.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.70% of the stock is owned by insiders.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hodges Capital Management Inc. purchased a new position in shares of Citi Trends during the 2nd quarter worth $250,000. Los Angeles Capital Management LLC bought a new position in Citi Trends in the 2nd quarter worth $733,000. Envestnet Asset Management Inc. bought a new stake in Citi Trends during the second quarter valued at about $227,000. AlphaQuest LLC grew its holdings in Citi Trends by 27.0% during the second quarter. AlphaQuest LLC now owns 9,313 shares of the company's stock valued at $311,000 after purchasing an additional 1,978 shares during the period. Finally, AFG Fiduciary Services Limited Partnership purchased a new stake in Citi Trends in the second quarter worth about $330,000.

About Citi Trends

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.