Citi Trends (NASDAQ:CTRN) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Citi Trends, Inc. (NASDAQ:CTRN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.03 and traded as high as $45.69. Citi Trends shares last traded at $45.66, with a volume of 79,547 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. DA Davidson reaffirmed a “buy” rating and set a $68.00 price target on shares of Citi Trends in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Citi Trends Stock Performance

The business has a 50 day moving average of $45.25 and a two-hundred day moving average of $45.03. The firm has a market capitalization of $381.72 million, a price-to-earnings ratio of 32.85 and a beta of 1.88.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a return on equity of 2.15% and a net margin of 1.42%.The business had revenue of $230.86 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period in the prior year, the business earned $0.11 EPS.

Insiders Place Their Bets

In related news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Citi Trends

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Citi Trends by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock worth $11,595,000 after purchasing an additional 34,450 shares in the last quarter. AWM Investment Company Inc. increased its holdings in Citi Trends by 3.9% during the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock worth $10,043,000 after purchasing an additional 9,180 shares in the last quarter. Marshall Wace LLP increased its holdings in Citi Trends by 61.1% during the 4th quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock worth $8,214,000 after purchasing an additional 74,994 shares in the last quarter. AQR Capital Management LLC increased its holdings in Citi Trends by 239.6% during the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock worth $7,569,000 after purchasing an additional 128,508 shares in the last quarter. Finally, Broad Bay Capital Management LP bought a new stake in Citi Trends during the 4th quarter worth approximately $6,650,000.

Citi Trends Company Profile

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.