Citi Trends (NASDAQ:CTRN) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Citi Trends shares have recently surpassed their two hundred day moving average, trading at $32.51, as analysts debate whether it's time to sell.
• While DA Davidson upgraded the price target to $43 with a "buy" rating, Weiss Ratings assigned a "sell" rating and Wall Street Zen downgraded to "hold," reflecting mixed sentiment among analysts.
• Citi Trends reported a revenue of $190.75 million for the last quarter, exceeding analyst expectations, despite posting a negative earnings per share of ($0.82).

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.43 and traded as high as $32.67. Citi Trends shares last traded at $32.51, with a volume of 109,859 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTRN shares. DA Davidson boosted their price target on Citi Trends from $40.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Citi Trends in a report on Saturday, September 27th. Finally, Wall Street Zen downgraded Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.50.

Citi Trends Stock Up 1.7%

The company has a market cap of $270.16 million, a P/E ratio of -16.26 and a beta of 2.19. The company has a 50 day moving average price of $32.82 and a 200-day moving average price of $28.43.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.19. The company had revenue of $190.75 million during the quarter, compared to analysts' expectations of $188.20 million. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%.

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 1,000 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the completion of the sale, the director directly owned 16,163 shares of the company's stock, valued at $585,262.23. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citi Trends

Several hedge funds have recently modified their holdings of CTRN. GAMMA Investing LLC acquired a new position in Citi Trends during the first quarter valued at $63,000. State of Wyoming acquired a new position in Citi Trends during the first quarter valued at $148,000. Dynamic Technology Lab Private Ltd acquired a new position in Citi Trends during the first quarter valued at $204,000. Bank of America Corp DE raised its position in Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company's stock valued at $208,000 after buying an additional 342 shares during the period. Finally, Hsbc Holdings PLC raised its position in Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company's stock valued at $223,000 after buying an additional 488 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.

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