What just happened? Citi Trends, Inc. (NASDAQ:CTRN) stock value has climbed by nearly 7.24% or (1.25 points) to $18.52 from its previous close of $17.27. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 124420 contracts so far this session. CTRN shares had a relatively better volume day versus average trading capacity of 71.66 million shares, but with a 10.85 million float and a -8.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CTRN stock indicates that the average analyst price target is $28 per share. This means the stock has a potential increase of 51.19% from where the CTRN share price has been trading recently which is between $17.26 and $17.965.
The shorts are running away from Citi Trends, Inc. (CTRN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in CTRN shares. While short interest still represents only 4.59% of CTRN’s float, the number of shares shorted have fallen by -13020. The number of shares shorted fell to 485521 shares, down from 498541 shares during the preceding fortnight. With average daily trading volumes at 66136 shares, days to cover increased to about 6.536442 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “With A Return On Equity Of 11%, Has Citi Trends, Inc.’s (NASDAQ:CTRN) Management Done Well?” and dated May 13, 2019.
During the recent trading session for Citi Trends, Inc. (NASDAQ:CTRN), the company witnessed their stock drop by $-0.32 over a week and tumble down $-1 from the price 20 days ago. When compared to their established 52-week high of $34.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/18. The recent low of $17.26 stood for a -46.93% since 05/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.38 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Citi Trends, Inc., the two-week RSI stands at 48.25. This figure suggests that CTRN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CTRN readings is similarly very revealing as it has a stochastic reading of 23.35% at this stage. This figure means that CTRN share price today is being overbought.
Technical chart claims that Citi Trends, Inc. (CTRN) would settle between $17.74/share to $18.2/share level. However, if the stock price goes below the $17.03 mark, then the market for Citi Trends, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.79 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.42. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Sidoti, assumed coverage of CTRN assigning Buy rating, according to their opinion released on February 22. MKM Partners analysts bumped their rating on Citi Trends, Inc. (NASDAQ:CTRN) stock from Neutral to Buy in a separate flash note issued to investors on March 20. Analysts at MKM Partners are sticking to their Neutral stance. However, on May 18, they lifted price target for these shares to $16 from $19.
Moving on, CTRN stock price is currently trading at 8.22X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.4 while for the average stock in the same group, the multiple is 2.3. Citi Trends, Inc. current P/E ratio of 22.62 means it is trading at a discount against its industry’s 34.76. In the past 5 years, this ratio for the stock has been fluctuating between 17.97 and 510.86.