Centuri (NYSE:CTRI) Given New $37.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Centuri from $32.00 to $37.00 and kept an "overweight" rating, implying roughly a 7.8% upside from the current share price.
• Centuri beat quarterly estimates with EPS of ($0.02) versus a ($0.07) consensus and reported revenue of $688.69 million, up 31.5% year-over-year.
• The stock traded at $34.32 (up 2.2% intraday) with a $3.46 billion market cap and a high P/E of 100.8; analyst coverage is mixed (2 Buys, 1 Hold, 2 Sells) and the MarketBeat average price target is $30.10.

Centuri (NYSE:CTRI - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $32.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 7.80% from the company's current price.

CTRI has been the subject of several other research reports. Cantor Fitzgerald upped their price objective on shares of Centuri from $35.25 to $37.40 and gave the company an "overweight" rating in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Centuri in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $30.10.

Centuri Stock Up 2.2%

NYSE:CTRI traded up $0.72 during mid-day trading on Friday, hitting $34.32. The stock had a trading volume of 285,624 shares, compared to its average volume of 1,382,969. The stock has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $27.61. The company has a market capitalization of $3.46 billion, a PE ratio of 100.80, a PEG ratio of 1.74 and a beta of 1.34. Centuri has a twelve month low of $17.97 and a twelve month high of $42.99. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.82.

Centuri (NYSE:CTRI - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. Centuri had a net margin of 0.98% and a return on equity of 6.03%. The firm had revenue of $688.69 million for the quarter, compared to analysts' expectations of $618.87 million. During the same quarter last year, the company earned ($0.12) earnings per share. The firm's revenue was up 31.5% compared to the same quarter last year. On average, equities research analysts anticipate that Centuri will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Centuri

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company's stock worth $40,000 after buying an additional 1,874 shares during the last quarter. Amalgamated Bank raised its position in Centuri by 288.1% during the 3rd quarter. Amalgamated Bank now owns 2,278 shares of the company's stock worth $48,000 after buying an additional 1,691 shares during the last quarter. KBC Group NV purchased a new position in Centuri during the 1st quarter worth $67,000. CWM LLC raised its position in Centuri by 59.7% during the 4th quarter. CWM LLC now owns 4,045 shares of the company's stock worth $102,000 after buying an additional 1,512 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Centuri during the 3rd quarter worth $119,000.

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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