Centuri (NYSE:CTRI) Given New $26.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird cut Centuri’s price target to $26 from $33 while maintaining an “outperform” rating, implying approximately 30.8% upside from the stock’s $19.88 price.
• Centuri shares fell 3.1% and remain near their 12-month low. Analyst sentiment is mixed, with the stock carrying an overall “Hold” rating and an average price target of $29.50.
• The company exceeded quarterly expectations, reporting adjusted earnings of $0.24 per share versus the $0.21 consensus and revenue of $959.5 million, up 32.9% year over year. A company director also purchased 5,200 shares.

Centuri (NYSE:CTRI - Get Free Report) had its price target cut by investment analysts at Robert W. Baird from $33.00 to $26.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 30.81% from the company's current price.

Several other research analysts have also recently weighed in on CTRI. Cantor Fitzgerald increased their price objective on Centuri from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Wells Fargo & Company decreased their price target on shares of Centuri from $37.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Bank of America dropped their price objective on shares of Centuri from $33.50 to $21.00 and set an "underperform" rating for the company in a research note on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Centuri from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $29.50.

Centuri Trading Down 3.1%

Shares of NYSE:CTRI opened at $19.88 on Tuesday. Centuri has a 12-month low of $19.03 and a 12-month high of $42.99. The business has a 50 day moving average of $22.37 and a 200-day moving average of $27.84. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.01 billion, a PE ratio of 64.12, a P/E/G ratio of 0.67 and a beta of 1.01.

Centuri (NYSE:CTRI - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. Centuri had a return on equity of 5.85% and a net margin of 0.86%.The firm's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts forecast that Centuri will post 0.62 earnings per share for the current year.

Insider Activity at Centuri

In other news, Director Dustin DeMaria purchased 5,200 shares of the business's stock in a transaction dated Friday, September 18th. The stock was bought at an average price of $19.27 per share, with a total value of $100,204.00. Following the acquisition, the director owned 12,936 shares in the company, valued at approximately $249,276.72. The trade was a 67.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Centuri by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company's stock worth $25,998,000 after buying an additional 281,264 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Centuri by 798.4% during the 1st quarter. Quantinno Capital Management LP now owns 90,811 shares of the company's stock worth $2,653,000 after buying an additional 80,703 shares during the last quarter. Irenic Capital Management LP boosted its stake in Centuri by 46.2% in the second quarter. Irenic Capital Management LP now owns 518,705 shares of the company's stock valued at $15,686,000 after buying an additional 163,934 shares in the last quarter. Sei Investments Co. boosted its stake in Centuri by 75.1% in the first quarter. Sei Investments Co. now owns 111,437 shares of the company's stock valued at $3,255,000 after buying an additional 47,809 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Centuri in the second quarter valued at about $7,827,000.

About Centuri

Centuri Group, Inc is a North American utility infrastructure services company that supports the construction, maintenance and modernization of energy networks. The company primarily serves natural gas and electric utilities, providing services across the infrastructure life cycle, from initial engineering and installation to repair, replacement and ongoing maintenance.

Its capabilities include gas distribution construction, electric transmission and distribution work, pipeline integrity services, underground utility installation, emergency response and related engineering and field services.

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