Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Update

Key Points

• Centuri Holdings experienced a significant increase in short interest, rising by 65.9% in August to a total of 2,720,000 shares.
• The company reported $0.19 earnings per share in its last quarterly results, falling short of the consensus estimate of $0.21, though revenue increased by 7.7% year-over-year.
• Wells Fargo raised its price target for Centuri from $22.00 to $25.00, reflecting an "overweight" rating, while the current consensus rating is "Hold" with an average target of $22.00.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,720,000 shares, an increase of 65.9% from the August 15th total of 1,640,000 shares. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is currently 1.7 days. Currently, 3.7% of the shares of the company are short sold. Currently, 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,620,000 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On Centuri

Several hedge funds have recently added to or reduced their stakes in CTRI. Northern Trust Corp grew its holdings in Centuri by 18.5% during the 4th quarter. Northern Trust Corp now owns 138,497 shares of the company's stock valued at $2,674,000 after purchasing an additional 21,586 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Centuri by 381.1% during the 4th quarter. BNP Paribas Financial Markets now owns 32,844 shares of the company's stock valued at $634,000 after purchasing an additional 26,017 shares during the last quarter. Bank of America Corp DE grew its holdings in Centuri by 63.3% during the 4th quarter. Bank of America Corp DE now owns 15,568 shares of the company's stock valued at $301,000 after purchasing an additional 6,035 shares during the last quarter. Deutsche Bank AG grew its holdings in Centuri by 31.4% during the 4th quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock valued at $167,000 after purchasing an additional 2,068 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Centuri by 27.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company's stock worth $186,000 after buying an additional 2,054 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTRI. JPMorgan Chase & Co. upped their target price on shares of Centuri from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $22.00.

Centuri Price Performance

CTRI stock traded down $0.46 during trading on Friday, hitting $21.34. 5,238,716 shares of the company's stock traded hands, compared to its average volume of 2,810,557. Centuri has a 52 week low of $14.45 and a 52 week high of $24.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.72 and a current ratio of 1.72. The business has a fifty day simple moving average of $21.15 and a 200 day simple moving average of $19.79. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -711.10, a P/E/G ratio of 1.06 and a beta of 1.12.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $702.35 million. During the same quarter last year, the business earned $0.20 EPS. Centuri's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts expect that Centuri will post 0.25 EPS for the current fiscal year.

About Centuri

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.