Cantor Fitzgerald Forecasts Strong Price Appreciation for Centuri (NYSE:CTRI) Stock

Key Points

• Cantor Fitzgerald raised its price target on Centuri to $37.40 (from $35.25) and kept an overweight rating, implying roughly a 22.6% upside from the current share price.
• Market consensus remains more cautious—a Street average rating of Hold with a $29.35 consensus price target and mixed analyst views (two Buys, one Hold, two Sells).
• Centuri's latest quarter delivered a revenue beat ($858.6M vs. $740.6M, +19.7% YoY) but missed on EPS ($0.17 vs. $0.20), while large investors including Carl Icahn and Vanguard materially increased their stakes.

Centuri (NYSE:CTRI - Get Free Report) had its target price lifted by analysts at Cantor Fitzgerald from $35.25 to $37.40 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 22.56% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Centuri in a report on Monday, December 29th. Wells Fargo & Company increased their price target on Centuri from $30.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $29.35.

Centuri Stock Performance

NYSE:CTRI traded up $0.39 during midday trading on Wednesday, hitting $30.52. The company's stock had a trading volume of 20,358 shares, compared to its average volume of 1,411,378. Centuri has a fifty-two week low of $14.45 and a fifty-two week high of $32.38. The firm's 50 day moving average is $29.55 and its 200-day moving average is $25.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $3.08 billion, a P/E ratio of 131.95, a P/E/G ratio of 1.21 and a beta of 0.63.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The business had revenue of $858.60 million for the quarter, compared to analysts' expectations of $740.62 million. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The business's quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts anticipate that Centuri will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

Several hedge funds and other institutional investors have recently made changes to their positions in CTRI. Icahn Carl C boosted its stake in Centuri by 32.2% during the fourth quarter. Icahn Carl C now owns 14,336,044 shares of the company's stock worth $361,985,000 after buying an additional 3,488,372 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Centuri by 126.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company's stock worth $170,625,000 after acquiring an additional 4,493,955 shares during the last quarter. Hill City Capital LP increased its stake in shares of Centuri by 5.2% in the 4th quarter. Hill City Capital LP now owns 4,030,000 shares of the company's stock worth $101,758,000 after acquiring an additional 200,000 shares during the last quarter. Carronade Capital Management LP raised its holdings in shares of Centuri by 30.7% during the 4th quarter. Carronade Capital Management LP now owns 3,988,664 shares of the company's stock worth $100,714,000 after acquiring an additional 935,847 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Centuri during the 3rd quarter worth $78,222,000.

About Centuri

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.

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