Citi Trends (NASDAQ:CTRN) Shares Cross Above 200 Day Moving Average – What’s Next?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTRN shares. Craig Hallum upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Monday, February 10th. StockNews.com upgraded shares of Citi Trends from a “sell” rating to a “hold” rating in a research report on Friday. Finally, DA Davidson reiterated a “buy” rating and set a $29.00 target price on shares of Citi Trends in a research report on Wednesday, March 19th.

Citi Trends Price Performance

The firm has a 50 day moving average price of $24.61 and a 200-day moving average price of $22.31. The firm has a market cap of $198.33 million, a price-to-earnings ratio of -7.42 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last released its earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.73). The business had revenue of $211.17 million for the quarter, compared to analyst estimates of $211.54 million. Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. During the same quarter in the previous year, the company posted $0.53 earnings per share.

Hedge Funds Weigh In On Citi Trends

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

About Citi Trends

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.