Citi Trends (NASDAQ:CTRN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Citi Trends, Inc. (NASDAQ:CTRN) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.31 and traded as high as $23.14. Citi Trends shares last traded at $22.77, with a volume of 54,962 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTRN. DA Davidson reaffirmed a “buy” rating and issued a $29.00 target price on shares of Citi Trends in a report on Wednesday, March 19th. StockNews.com upgraded Citi Trends from a “sell” rating to a “hold” rating in a report on Friday. Finally, Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, February 10th.

Citi Trends Trading Down 0.6 %

The firm’s 50-day moving average price is $24.53 and its 200-day moving average price is $22.37. The stock has a market capitalization of $197.11 million, a PE ratio of -7.37 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.73). The company had revenue of $211.17 million for the quarter, compared to the consensus estimate of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same period in the previous year, the firm earned $0.53 earnings per share.

Institutional Trading of Citi Trends

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its stake in Citi Trends by 7.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company’s stock worth $2,639,000 after buying an additional 6,702 shares during the period. Jane Street Group LLC bought a new stake in shares of Citi Trends in the 3rd quarter worth about $193,000. Barclays PLC boosted its stake in shares of Citi Trends by 19.9% during the 3rd quarter. Barclays PLC now owns 25,953 shares of the company’s stock worth $478,000 after purchasing an additional 4,300 shares during the period. Empowered Funds LLC grew its holdings in Citi Trends by 5.0% during the 4th quarter. Empowered Funds LLC now owns 25,278 shares of the company’s stock valued at $664,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Citi Trends by 157.3% in the 4th quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock worth $816,000 after purchasing an additional 19,005 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.