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

Key Points

• Centuri shares dropped 18.2%, opening at $25.05 versus a prior close of $27.86, with the stock later trading near $25.84.
• Analyst views remain mixed: the consensus rating is “Hold” with an average price target of $37.80, while targets range from $29 to $41 and ratings span Buy to Sell.
• Centuri’s latest quarterly results exceeded expectations, with EPS of $0.24 versus $0.21 expected and revenue of $959.5 million, up 32.9% year over year; several institutional investors also increased or initiated positions.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $27.86, but opened at $25.05. Centuri shares last traded at $25.8440, with a volume of 252,157 shares.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CTRI shares. Wells Fargo & Company lifted their price objective on shares of Centuri from $32.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Weiss Ratings restated a "sell (d+)" rating on shares of Centuri in a research report on Wednesday, June 24th. Robert W. Baird set a $41.00 price target on Centuri in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Centuri from $26.00 to $29.00 and gave the stock an "underweight" rating in a research note on Friday, May 8th. Finally, UBS Group increased their price objective on Centuri from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.80.

Centuri Trading Down 18.2%

The stock has a market capitalization of $2.30 billion, a P/E ratio of 67.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.10. The stock's fifty day moving average price is $28.83 and its two-hundred day moving average price is $30.18. The company has a current ratio of 1.88, a quick 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 Tuesday, August 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The firm's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. Equities research analysts forecast that Centuri Holdings, Inc. will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG raised its position in Centuri by 59.9% during the 4th quarter. UBS Group AG now owns 1,025,061 shares of the company's stock valued at $25,883,000 after purchasing an additional 384,054 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Centuri in the 4th quarter worth approximately $20,233,000. Verbena Value LP increased its position in Centuri by 31.3% during the 1st quarter. Verbena Value LP now owns 1,771,457 shares of the company's stock valued at $51,744,000 after purchasing an additional 422,593 shares during the period. Tudor Investment Corp ET AL bought a new position in Centuri in the 3rd quarter worth $4,992,000. Finally, Militia Capital Management LLC purchased a new stake in shares of Centuri in the 1st quarter worth about $615,000.

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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