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

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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CTRN shares. Craig Hallum raised Citi Trends from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, February 10th. StockNews.com raised 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 note on Wednesday, March 19th.

Citi Trends Price Performance

The firm has a 50 day moving average of $24.61 and a 200-day moving average of $22.31. The stock has a market capitalization of $198.33 million, a P/E ratio of -7.42 and a beta of 2.29.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data 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). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The firm had revenue of $211.17 million for the quarter, compared to the consensus estimate of $211.54 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share.

Hedge Funds Weigh In On Citi Trends

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Citi Trends by 5,400.6% in the fourth quarter. JPMorgan Chase & Co. now owns 152,422 shares of the company’s stock valued at $4,001,000 after acquiring an additional 149,651 shares during the period. Shay Capital LLC increased its position in shares of Citi Trends by 40.1% during the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company’s stock worth $9,450,000 after purchasing an additional 102,958 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Citi Trends by 130.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company’s stock valued at $1,575,000 after purchasing an additional 33,946 shares during the last quarter. Solas Capital Management LLC boosted its position in Citi Trends by 17.6% in the fourth quarter. Solas Capital Management LLC now owns 151,412 shares of the company’s stock valued at $3,975,000 after buying an additional 22,650 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Citi Trends by 157.3% during the fourth quarter. Rhumbline Advisers now owns 31,089 shares of the company’s stock worth $816,000 after buying an additional 19,005 shares during the last quarter.

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.