Wells Fargo & Company Cuts Centuri (NYSE:CTRI) Price Target to $32.00
by Doug Wharley · The Cerbat GemCenturi (NYSE:CTRI – Free Report) had its price target cut by Wells Fargo & Company from $34.00 to $32.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.
A number of other brokerages have also issued reports on CTRI. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a research note on Friday, March 27th. Cantor Fitzgerald boosted their price objective on shares of Centuri from $35.25 to $37.40 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.85.
View Our Latest Stock Analysis on CTRI
Centuri Trading Up 0.3%
CTRI opened at $29.92 on Wednesday. Centuri has a 52 week low of $14.45 and a 52 week high of $32.38. The stock’s fifty day moving average is $29.84 and its two-hundred day moving average is $25.46. The company has a market capitalization of $3.02 billion, a P/E ratio of 130.07, a PEG ratio of 1.20 and a beta of 0.73. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.82.
Centuri (NYSE:CTRI – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $858.60 million during the quarter, compared to the consensus estimate of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.09%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. Analysts forecast that Centuri will post 0.25 earnings per share for the current year.
Institutional Trading of Centuri
A number of hedge funds have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new position in Centuri during the third quarter worth approximately $4,992,000. Geode Capital Management LLC grew its holdings in Centuri by 59.1% in the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock valued at $11,847,000 after buying an additional 195,992 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Centuri by 68.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 126,385 shares of the company’s stock worth $2,676,000 after acquiring an additional 51,385 shares during the last quarter. Citigroup Inc. increased its stake in shares of Centuri by 492.0% in the 3rd quarter. Citigroup Inc. now owns 92,634 shares of the company’s stock worth $1,961,000 after acquiring an additional 76,987 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Centuri by 3,300.4% during the 3rd quarter. New York State Common Retirement Fund now owns 187,023 shares of the company’s stock worth $3,959,000 after acquiring an additional 181,523 shares during the period.
Centuri Company Profile
Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.
Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.