Wells Fargo & Company Issues Pessimistic Forecast for Centuri (NYSE:CTRI) Stock Price

Key Points

• Wells Fargo cut its Centuri price target from $28 to $24 but maintained an “overweight” rating, implying 21.4% upside from the prior close.
• Analyst views are mixed: Centuri has a consensus “Hold” rating and an average price target of $27.50, with three Buy, one Hold and three Sell ratings.
• Centuri beat quarterly expectations, reporting $0.42 earnings per share versus $0.23 forecast and $1.19 billion in revenue, up 40.2% year over year.

Centuri (NYSE:CTRI - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $28.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 21.40% from the stock's previous close.

A number of other research analysts have also recently weighed in on CTRI. Cantor Fitzgerald lifted their target price on Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. lowered their price target on Centuri from $23.00 to $22.00 and set an "underweight" rating for the company in a research report on Monday, October 19th. Robert W. Baird dropped their price target on Centuri from $33.00 to $26.00 and set an "outperform" rating for the company in a research note on Tuesday, September 29th. Bank of America cut their price objective on Centuri from $33.50 to $21.00 and set an "underperform" rating on the stock in a report on Friday, September 4th. Finally, Weiss Ratings downgraded Centuri from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $27.50.

Centuri Trading Up 6.0%

NYSE:CTRI traded up $1.12 on Friday, reaching $19.77. The stock had a trading volume of 387,196 shares, compared to its average volume of 1,630,321. Centuri has a 12-month low of $18.50 and a 12-month high of $42.99. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 63.90, a P/E/G ratio of 0.67 and a beta of 0.94. The firm's fifty day moving average is $20.33 and its two-hundred day moving average is $27.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.82 and a quick ratio of 1.82.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.19. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.04 billion. Centuri had a net margin of 0.86% and a return on equity of 5.85%. The company's revenue was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities analysts expect that Centuri will post 0.61 EPS for the current fiscal year.

Insider Activity

In other Centuri news, Director Dustin DeMaria bought 5,200 shares of the company's stock in a transaction dated Friday, September 18th. The shares were acquired at an average cost of $19.27 per share, with a total value of $100,204.00. Following the completion of the transaction, the director owned 12,936 shares in the company, valued at $249,276.72. The trade was a 67.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Centuri

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of Centuri by 46.2% during the first 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. Irenic Capital Management LP increased its stake in shares of Centuri by 46.2% in the second quarter. Irenic Capital Management LP now owns 518,705 shares of the company's stock worth $15,686,000 after buying an additional 163,934 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Centuri by 798.4% in the first 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. NEOS Investment Management LLC raised its holdings in Centuri by 33.7% in the second quarter. NEOS Investment Management LLC now owns 617,145 shares of the company's stock valued at $18,662,000 after acquiring an additional 155,647 shares in the last quarter. Finally, Sei Investments Co. raised its holdings 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 acquiring an additional 47,809 shares in the last quarter.

Centuri Company Profile

Centuri Holdings, Inc is a strategic infrastructure services company that supports the development, maintenance and modernization of energy and utility systems. The company provides construction and related services for natural gas and electric distribution infrastructure, including pipelines, utility networks and other assets used to deliver energy to homes, businesses and communities.

Centuri also serves customers in areas such as electric transmission, renewable energy and broader utility infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.