Citi Trends (NASDAQ:CTRN) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Citi Trends, Inc. (NASDAQ:CTRN) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $47.14 and traded as high as $59.38. Citi Trends shares last traded at $59.20, with a volume of 143,090 shares trading hands.

Analysts Set New Price Targets

CTRN has been the subject of several research reports. Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. DA Davidson upped their price target on Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Citi Trends currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Citi Trends Trading Up 2.6%

The stock has a market cap of $493.14 million, a P/E ratio of 42.59 and a beta of 1.83. The company’s fifty day simple moving average is $49.98 and its 200-day simple moving average is $47.14.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The company had revenue of $230.86 million during the quarter, compared to the consensus estimate of $217.42 million. During the same period last year, the firm earned $0.11 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after purchasing an additional 619 shares during the period. New York State Common Retirement Fund grew its stake in shares of Citi Trends by 175.0% in the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Citi Trends in the 4th quarter worth approximately $51,000. Meeder Asset Management Inc. raised its holdings in shares of Citi Trends by 277.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock worth $68,000 after buying an additional 1,211 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Citi Trends by 7,843.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock worth $197,000 after buying an additional 6,275 shares during the period.

About Citi Trends

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.