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

Shares of Citi Trends, Inc. (NASDAQ:CTRN) 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 traded.

Wall Street Analyst Weigh In

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

Citi Trends Stock Performance

The firm’s 50 day moving average price is $34.25 and its two-hundred day moving average price is $30.16. The firm has a market cap of $300.57 million, a PE ratio of -18.09 and a beta of 2.19.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, January 12th. The company reported $1.22 earnings per share for the quarter. Citi Trends had a negative net margin of 2.13% and a negative return on equity of 21.25%. The business 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 other news, Director Margaret L. Jenkins sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $36.21, for a total value of $36,210.00. Following the transaction, the director directly owned 16,163 shares in the company, valued at approximately $585,262.23. This represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Citi Trends

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in Citi Trends by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after purchasing an additional 342 shares during the last quarter. State of Wyoming grew its holdings in shares of Citi Trends by 7.0% during the second quarter. State of Wyoming now owns 7,160 shares of the company’s stock worth $239,000 after buying an additional 469 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock worth $223,000 after buying an additional 488 shares during the last quarter. Bank of New York Mellon Corp increased its position in Citi Trends by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company’s stock valued at $359,000 after acquiring an additional 717 shares during the period. Finally, American Century Companies Inc. raised its stake in Citi Trends by 10.5% during the 1st quarter. American Century Companies Inc. now owns 14,470 shares of the company’s stock valued at $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.