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

Citi Trends, Inc. (NASDAQ:CTRN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Finally, Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Stock Up 0.7%

The company’s fifty day moving average is $50.31 and its 200 day moving average is $47.30. The firm has a market cap of $529.87 million, a price-to-earnings ratio of 45.76 and a beta of 1.83.

Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The firm had revenue of $230.86 million for the quarter, compared to analyst estimates of $217.42 million. During the same period in the previous year, the business earned $0.11 EPS.

Institutional Trading of Citi Trends

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of Citi Trends by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after purchasing an additional 342 shares during the period. State of Wyoming lifted its stake in Citi Trends by 7.0% in the 2nd quarter. State of Wyoming now owns 7,160 shares of the company’s stock valued at $239,000 after purchasing an additional 469 shares during the last quarter. Strs Ohio grew its holdings in Citi Trends by 7.1% during the first quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $325,000 after purchasing an additional 500 shares during the period. Hsbc Holdings PLC grew its holdings in Citi Trends by 4.5% during the fourth quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock worth $559,000 after purchasing an additional 586 shares during the period. Finally, BNP Paribas Financial Markets increased its position 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 buying an additional 619 shares during the last quarter.

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.