Centuri Holdings, Inc. (NYSE:CTRI) Sees Large Decline in Short Interest

Key Points

• Centuri Holdings, Inc. experienced a significant decline in short interest, dropping 20% in August to 1,640,000 shares, which equates to 3.5% of the company's total shares.
• Analyst ratings for Centuri show mixed opinions, with Wells Fargo raising its price target to $25 while JPMorgan lowered its target to $19; the consensus rating remains "Hold" with an average price target of $22.
• Centuri's recent earnings report revealed a quarterly EPS of $0.19, missing estimates but showing a revenue increase of 7.7% year-over-year, totaling $724.05 million.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 1,640,000 shares, adecreaseof20.0% from the July 31st total of 2,050,000 shares. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is presently 1.5 days. Currently,3.5% of the shares of the company are short sold. Currently,3.5% of the shares of the company are short sold. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

CTRI has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. raised their target price on shares of Centuri from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.00.

Centuri Stock Down 2.7%

CTRI stock traded down $0.59 during trading on Tuesday, reaching $21.09. The stock had a trading volume of 850,185 shares, compared to its average volume of 865,849. Centuri has a one year low of $14.45 and a one year high of $24.60. The company's 50 day moving average is $21.03 and its two-hundred day moving average is $19.50. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -702.90, a P/E/G ratio of 1.05 and a beta of 1.12. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.59.

Centuri (NYSE:CTRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The business had revenue of $724.05 million for the quarter, compared to analysts' expectations of $702.35 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Centuri will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Centuri

Hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its stake in Centuri by 18.5% during the fourth quarter. Northern Trust Corp now owns 138,497 shares of the company's stock worth $2,674,000 after acquiring an additional 21,586 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Centuri by 381.1% in the fourth quarter. BNP Paribas Financial Markets now owns 32,844 shares of the company's stock worth $634,000 after purchasing an additional 26,017 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Centuri by 63.3% in the fourth quarter. Bank of America Corp DE now owns 15,568 shares of the company's stock worth $301,000 after purchasing an additional 6,035 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Centuri by 31.4% during the fourth quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock worth $167,000 after acquiring an additional 2,068 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in shares of Centuri during the fourth quarter worth $676,000.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.

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