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

Key Points

• Citi Trends shares crossed above their 200-day moving average of $52.63, reaching $58.10 before last trading at $57.78.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $81; two analysts rate the stock Buy and one rates it Hold.
• The company reported quarterly earnings of $0.05 per share, beating the consensus estimate of a $0.32 loss; revenue of $211.63 million was nearly in line with estimates.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $52.63 and traded as high as $58.10. Citi Trends shares last traded at $57.78, with a volume of 214,393 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on CTRN shares. DA Davidson set a $81.00 price target on shares of Citi Trends in a report on Wednesday, August 26th. Wall Street Zen cut shares of Citi Trends from a "buy" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, Weiss Ratings upgraded shares of Citi Trends from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.00.

Citi Trends Stock Performance

The stock has a fifty day moving average of $54.61 and a 200 day moving average of $52.63. The company has a market capitalization of $481.89 million, a PE ratio of 70.46 and a beta of 1.85.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.37. Citi Trends had a return on equity of 8.11% and a net margin of 0.84%. The business had revenue of $211.63 million during the quarter, compared to the consensus estimate of $211.60 million.

Insiders Place Their Bets

In other Citi Trends news, EVP Lisa Powell sold 10,000 shares of Citi Trends stock in a transaction on Friday, September 4th. The shares were sold at an average price of $70.10, for a total value of $701,000.00. Following the sale, the executive vice president directly owned 13,970 shares in the company, valued at approximately $979,297. The trade was a 41.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Katrina George sold 500 shares of Citi Trends stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $50.57, for a total value of $25,285.00. Following the completion of the sale, the vice president directly owned 5,213 shares in the company, valued at $263,621.41. This trade represents a 8.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTRN. Legal & General Group Plc bought a new stake in shares of Citi Trends during the second quarter worth $30,000. Allworth Financial LP bought a new position in shares of Citi Trends in the second quarter worth about $31,000. Integrated Wealth Concepts LLC bought a new position in shares of Citi Trends in the second quarter worth about $62,000. State of Wyoming purchased a new position in Citi Trends in the 2nd quarter worth about $83,000. Finally, Group One Trading LLC purchased a new position in Citi Trends in the 2nd quarter worth about $94,000.

Citi Trends Company Profile

Citi Trends, Inc is a value-oriented retailer focused on apparel, accessories and home-related merchandise for African American and Latinx families. The company operates under the Citi Trends name and offers products designed to reflect current fashion and lifestyle trends at accessible prices.

Its merchandise assortment includes clothing, footwear and accessories for women, men and children, as well as infant and toddler items. Citi Trends also sells beauty products, toys, home décor and other household merchandise.

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