Citi Trends (NASDAQ:CTRN) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Citi Trends shares moved above their 200-day moving average of $55.11, reaching $56.50 before closing at $55.34 on trading volume of 208,450 shares.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an $81.00 price target, although Weiss Ratings and Wall Street Zen recently downgraded the stock to “Hold.”
• The company exceeded quarterly expectations, reporting earnings of $0.05 per share versus the consensus estimate of a $0.32 loss, while revenue of $211.63 million was essentially in line with forecasts.

Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $55.11 and traded as high as $56.50. Citi Trends shares last traded at $55.34, with a volume of 208,450 shares changing hands.

Analyst Upgrades and Downgrades

CTRN has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Citi Trends from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 10th. DA Davidson set a $81.00 price objective on shares of Citi Trends in a report on Wednesday, August 26th. Finally, Wall Street Zen downgraded Citi Trends from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.00.

Citi Trends Stock Performance

The firm's 50 day moving average is $67.40 and its 200-day moving average is $55.11. The stock has a market capitalization of $461.54 million, a price-to-earnings ratio of 67.49 and a beta of 1.82.

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

Insider Buying and Selling at Citi Trends

In other news, EVP Lisa Powell sold 10,000 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $70.10, for a total transaction of $701,000.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares of the company's stock, valued at $979,297. This represents a 41.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citi Trends

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Citi Trends during the 2nd quarter worth about $30,000. Allworth Financial LP acquired a new stake in Citi Trends in the 2nd quarter worth about $31,000. Integrated Wealth Concepts LLC acquired a new stake in Citi Trends in the 2nd quarter worth about $62,000. State of Wyoming acquired a new stake in Citi Trends in the 2nd quarter worth about $83,000. Finally, Group One Trading LLC purchased a new stake in Citi Trends during the 2nd quarter worth approximately $94,000.

About Citi Trends

Citi Trends, Inc is a value-focused specialty retailer serving predominantly African American and Latinx families and communities in the United States. The company operates stores under the Citi Trends banner and offers affordable merchandise for women, men and children.

Its product assortment includes apparel, footwear, accessories, beauty products, home décor, toys, and other seasonal and lifestyle merchandise. Citi Trends emphasizes frequently changing selections and value-oriented prices across its stores and online retail channel.

The company traces its roots to 1946 and has expanded from its origins as a regional retailer into a national chain serving customers primarily in urban and densely populated communities across the United States.

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