Centuri (NYSE:CTRI) Price Target Raised to $36.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Centuri’s price target to $36 from $35 and maintained an “overweight” rating, implying roughly 59.55% upside from the stock’s $22.56 price.
• Centuri’s latest quarterly results exceeded expectations, with earnings per share of $0.24 versus the $0.21 consensus and revenue of $959.53 million, up 32.9% year over year.
• Analyst sentiment remains mixed: Centuri has a consensus “Hold” rating and an average price target of $32.60, based on two Buy, two Hold and one Sell rating.

Centuri (NYSE:CTRI - Get Free Report) had its price target raised by Cantor Fitzgerald from $35.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price suggests a potential upside of 59.55% from the stock's current price.

CTRI has been the topic of a number of other research reports. Wall Street Zen lowered Centuri from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Robert W. Baird set a $33.00 target price on Centuri in a research report on Wednesday, August 5th. Wells Fargo & Company cut their price target on Centuri from $37.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. 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. Finally, JPMorgan Chase & Co. upped their price objective on Centuri from $26.00 to $29.00 and gave the company an "underweight" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $32.60.

Centuri Price Performance

Shares of NYSE:CTRI opened at $22.56 on Wednesday. Centuri has a one year low of $19.04 and a one year high of $42.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 72.79, a PEG ratio of 0.77 and a beta of 1.10. The firm has a 50 day simple moving average of $27.21 and a 200 day simple moving average of $29.82.

Centuri (NYSE:CTRI - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. Centuri had a net margin of 0.86% and a return on equity of 5.85%. The firm had revenue of $959.53 million for the quarter, compared to analysts' expectations of $835.99 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company's revenue was up 32.9% on a year-over-year basis. Research analysts predict that Centuri will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTRI. Caitong International Asset Management Co. Ltd increased its stake in shares of Centuri by 13,385.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company's stock valued at $40,000 after buying an additional 1,874 shares during the period. KBC Group NV acquired a new position in shares of Centuri in the first quarter worth approximately $67,000. CWM LLC boosted its holdings in Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company's stock valued at $102,000 after acquiring an additional 1,512 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after acquiring an additional 3,037 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Centuri in the first quarter valued at approximately $183,000.

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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