Citi Trends (NASDAQ:CTRN) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Citi Trends, Inc. (NASDAQ:CTRN)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.16 and traded as high as $37.38. Citi Trends shares last traded at $36.17, with a volume of 56,132 shares.

Analysts Set New Price Targets

CTRN has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Citi Trends presently has a consensus rating of “Hold” and a consensus target price of $39.50.

Citi Trends Price Performance

The company’s 50 day moving average is $34.25 and its 200 day moving average is $30.16. The stock has a market cap of $300.57 million, a price-to-earnings ratio of -18.09 and a beta of 2.19.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings data on Tuesday, January 12th. The company reported $1.22 EPS for the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The firm had revenue of $251.92 million during the quarter. Citi Trends has set its FY 2020
Pre-Market guidance at 1.85-1.95 EPS. Q4 2020
Pre-Market guidance at 1.22-1.32 EPS.

Insider Activity at Citi Trends

In related news, Director Margaret L. Jenkins sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $36.21, for a total value of $36,210.00. Following the completion of the sale, the director owned 16,163 shares in the company, valued at $585,262.23. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

Institutional Trading of Citi Trends

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Citi Trends by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company’s stock worth $359,000 after acquiring an additional 717 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in Citi Trends during the first quarter worth about $775,000. Royce & Associates LP raised its position in Citi Trends by 34.8% during the first quarter. Royce & Associates LP now owns 248,356 shares of the company’s stock worth $5,497,000 after acquiring an additional 64,178 shares during the last quarter. Nuveen LLC acquired a new position in Citi Trends during the first quarter worth about $121,992,000. Finally, American Century Companies Inc. raised its position in Citi Trends by 10.5% during the first quarter. American Century Companies Inc. now owns 14,470 shares of the company’s stock worth $320,000 after acquiring an additional 1,371 shares during the last quarter.

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.