Centuri (NYSE:CTRI) Downgraded by Wall Street Zen to "Hold"

Key Points

• Centuri was downgraded by Wall Street Zen from buy to hold, adding to a mixed analyst picture for the stock.
• Other recent ratings have been varied: several firms raised price targets or kept bullish views, while Weiss Ratings reiterated a sell; the current consensus on MarketBeat is Hold with a $37.80 target.
• The company recently reported better-than-expected earnings and revenue, with Q1 EPS of -$0.02 versus an expected -$0.07 and revenue up 31.5% year over year to $688.69 million.

Centuri (NYSE:CTRI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

CTRI has been the topic of a number of other reports. Robert W. Baird set a $41.00 price objective on shares of Centuri in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on Centuri from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Cantor Fitzgerald raised their target price on Centuri from $37.40 to $46.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centuri in a research note on Wednesday, June 24th. Finally, UBS Group boosted their price target on Centuri from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Centuri currently has a consensus rating of "Hold" and a consensus target price of $37.80.

Centuri Stock Performance

Shares of NYSE:CTRI opened at $27.77 on Monday. The company's 50 day moving average price is $29.65 and its two-hundred day moving average price is $30.11. Centuri has a 12-month low of $19.04 and a 12-month high of $42.99. The firm has a market cap of $2.80 billion, a PE ratio of 81.68, a PEG ratio of 0.92 and a beta of 1.06. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.82.

Centuri (NYSE:CTRI - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $688.69 million for the quarter, compared to analyst estimates of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The business's quarterly revenue was up 31.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. Equities research analysts predict that Centuri will post 0.61 earnings per share for the current year.

Institutional Trading of Centuri

A number of hedge funds have recently added to or reduced their stakes in CTRI. Assenagon Asset Management S.A. acquired a new position in shares of Centuri during the second quarter worth $23,153,000. Militia Capital Management LLC acquired a new stake in shares of Centuri during the 1st quarter valued at $615,000. Janus Henderson Group PLC grew its position in Centuri by 24.6% during the 1st quarter. Janus Henderson Group PLC now owns 43,100 shares of the company's stock worth $1,259,000 after acquiring an additional 8,500 shares during the last quarter. Irenic Capital Management LP grew its position in Centuri by 97.1% during the 1st quarter. Irenic Capital Management LP now owns 354,771 shares of the company's stock worth $10,363,000 after acquiring an additional 174,771 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Centuri by 25.7% in the 1st quarter. California State Teachers Retirement System now owns 107,166 shares of the company's stock worth $3,130,000 after purchasing an additional 21,907 shares in the last quarter.

Centuri Company Profile

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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