Centuri (NYSE:CTRI) Shares Gap Down - Here's What Happened

Shares of Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $19.60, but opened at $18.22. Centuri shares last traded at $18.55, with a volume of 988,854 shares trading hands.

Analysts Set New Price Targets

CTRI has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Centuri from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Robert W. Baird lowered their price target on Centuri from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price target on Centuri from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.00.

Centuri Trading Down 6.5%

The firm has a market capitalization of $1.62 billion and a price-to-earnings ratio of 917.90. The business has a 50 day moving average of $17.74 and a 200 day moving average of $19.34. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.64 and a quick ratio of 1.64.

Centuri (NYSE:CTRI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. The firm had revenue of $550.08 million during the quarter, compared to analysts' expectations of $534.41 million. Centuri had a negative return on equity of 55.33% and a negative net margin of 8.90%. Centuri's revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of Centuri

Several institutional investors have recently added to or reduced their stakes in CTRI. R Squared Ltd purchased a new position in shares of Centuri during the 4th quarter worth $26,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Centuri in the 4th quarter valued at $62,000. Deutsche Bank AG boosted its holdings in Centuri by 5.6% during the first quarter. Deutsche Bank AG now owns 9,143 shares of the company's stock worth $150,000 after buying an additional 484 shares in the last quarter. Corebridge Financial Inc. lifted its stake in shares of Centuri by 15.7% in the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company's stock worth $163,000 after buying an additional 1,146 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $186,000 after purchasing an additional 2,054 shares during the last quarter.

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.

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