Shares of Citi Trends, Inc. (NASDAQ:CTRN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on CTRN. DA Davidson reissued a "buy" rating and issued a $29.00 price objective on shares of Citi Trends in a research note on Wednesday, March 19th. Craig Hallum raised shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target for the company in a research report on Monday, February 10th. Finally, StockNews.com raised shares of Citi Trends from a "sell" rating to a "hold" rating in a research report on Friday.
Read Our Latest Report on CTRN
Citi Trends Stock Down 4.0 %
The company has a market cap of $189.18 million, a price-to-earnings ratio of -7.13 and a beta of 2.29. The business has a 50-day simple moving average of $24.53 and a two-hundred day simple moving average of $22.43.
Citi Trends (NASDAQ:CTRN - Get Free Report) 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). Citi Trends had a negative net margin of 3.36% and a negative return on equity of 14.43%. The business had revenue of $211.17 million during the quarter, compared to analyst estimates of $211.54 million. During the same period last year, the business earned $0.53 EPS.
Institutional Trading of Citi Trends
A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 149,651 shares during the period. Shay Capital LLC raised its holdings in Citi Trends by 40.1% in the 4th quarter. Shay Capital LLC now owns 360,000 shares of the company's stock valued at $9,450,000 after acquiring an additional 102,958 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Citi Trends by 130.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 59,991 shares of the company's stock worth $1,575,000 after acquiring an additional 33,946 shares during the period. Solas Capital Management LLC raised its stake in shares of 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 purchasing an additional 22,650 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Citi Trends by 157.3% in the fourth 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.
Citi Trends Company Profile
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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.
Further Reading
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