Centuri (NYSE:CTRI) Price Target Raised to $46.00

Key Points

• Cantor Fitzgerald raised Centuri’s price target from $37.40 to $46.00 and kept an overweight rating, implying about 33% upside from the current share price.
• Centuri recently posted stronger-than-expected quarterly results, with EPS of -$0.02 versus -$0.07 expected and revenue of $688.69 million versus $618.87 million estimated, while revenue rose 31.5% year over year.
• Analyst views remain mixed overall: the stock has a consensus Hold rating and an average price target of $35.40, even as some firms upgraded or raised targets and others maintained bearish calls.

Centuri (NYSE:CTRI - Get Free Report) had its price objective boosted by analysts at Cantor Fitzgerald from $37.40 to $46.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 33.34% from the stock's current price.

CTRI has been the topic of a number of other reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centuri in a research report on Friday, March 27th. Wall Street Zen raised shares of Centuri from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird set a $41.00 price target on shares of Centuri in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Centuri from $26.00 to $29.00 and gave the company an "underweight" rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Centuri from $32.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Centuri presently has a consensus rating of "Hold" and an average target price of $35.40.

Centuri Trading Down 0.1%

CTRI traded down $0.03 during trading on Monday, reaching $34.50. 28,748 shares of the company's stock were exchanged, compared to its average volume of 1,392,614. The company's fifty day moving average price is $31.88 and its 200-day moving average price is $27.61. The firm has a market capitalization of $3.48 billion, a PE ratio of 101.24, a P/E/G ratio of 1.18 and a beta of 1.34. Centuri has a fifty-two week low of $17.97 and a fifty-two week high of $42.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 1.88.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $688.69 million for the quarter, compared to analyst estimates of $618.87 million. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The firm's revenue was up 31.5% on a year-over-year basis. During the same period last year, the company earned ($0.12) EPS. As a group, equities analysts forecast that Centuri will post 0.59 EPS for the current year.

Institutional Investors Weigh In On Centuri

Several large investors have recently made changes to their positions in CTRI. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 1,874 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Centuri by 288.1% in the third quarter. Amalgamated Bank now owns 2,278 shares of the company's stock valued at $48,000 after purchasing an additional 1,691 shares in the last quarter. KBC Group NV acquired a new position in shares of Centuri during the first quarter worth about $67,000. CWM LLC grew its holdings in shares of Centuri by 59.7% during the fourth quarter. CWM LLC now owns 4,045 shares of the company's stock worth $102,000 after buying an additional 1,512 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Centuri by 121.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock worth $124,000 after buying an additional 3,037 shares in the last quarter.

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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