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

Shares of Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.82 and traded as high as $23.64. Citi Trends shares last traded at $22.80, with a volume of 48,550 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTRN shares. Craig Hallum upgraded shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price objective for the company in a report on Monday, February 10th. DA Davidson reiterated a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a research note on Wednesday, March 19th. Finally, StockNews.com upgraded shares of Citi Trends from a "sell" rating to a "hold" rating in a research note on Friday, March 28th.

Citi Trends Price Performance

The business's 50 day moving average is $21.15 and its 200-day moving average is $22.93. The company has a market cap of $190.73 million, a PE ratio of -7.50 and a beta of 2.01.

Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($1.73). Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. The firm had revenue of $211.17 million during the quarter, compared to analysts' expectations of $211.54 million. During the same quarter in the prior year, the firm earned $0.53 EPS.

Institutional Trading of Citi Trends

Several institutional investors have recently modified their holdings of the stock. Royce & Associates LP lifted its position in shares of Citi Trends by 34.8% during the 1st quarter. Royce & Associates LP now owns 248,356 shares of the company's stock worth $5,497,000 after buying an additional 64,178 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Citi Trends during the 1st quarter worth approximately $775,000. Bank of New York Mellon Corp lifted its position in shares of Citi Trends by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company's stock worth $359,000 after buying an additional 717 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Citi Trends during the 1st quarter worth approximately $63,000. Finally, Two Sigma Advisers LP lifted its position in shares of Citi Trends by 10.6% during the 4th quarter. Two Sigma Advisers LP now owns 99,000 shares of the company's stock worth $2,599,000 after buying an additional 9,500 shares during the last quarter.

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.