Centuri (NYSE:CTRI) Shares Gap Down - Should You Sell?

Key Points

• Centuri Holdings, Inc. (NYSE:CTRI) experienced a significant drop in stock price, opening at $19.97 down from a previous close of $21.20, with recent trading at $20.28.
• Analysts have varied ratings for Centuri, with JPMorgan Chase downgrading the stock to "underweight" and setting a price target of $19.00, while Wells Fargo raised their target to $25.00, maintaining an "overweight" rating.
• The company reported a quarterly earnings increase with a revenue of $550.08 million, surpassing estimates and showing a 4.2% growth compared to the same quarter last year.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $21.20, but opened at $19.97. Centuri shares last traded at $20.28, with a volume of 2,770,757 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTRI shares. Wells Fargo & Company lifted their price objective on Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price objective on Centuri from $18.00 to $19.00 and gave the company an "underweight" rating in a research note on Tuesday, July 22nd.

Centuri Trading Down 5.9%

The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.57 and a current ratio of 1.72. The company has a 50 day moving average of $21.53 and a two-hundred day moving average of $19.63. The stock has a market cap of $1.77 billion, a PE ratio of -664.45, a price-to-earnings-growth ratio of 1.07 and a beta of 1.13.

Centuri (NYSE:CTRI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The business had revenue of $724.05 million during the quarter, compared to analysts' expectations of $702.35 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Centuri's revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its holdings in Centuri by 238.1% in the 2nd quarter. CWM LLC now owns 2,688 shares of the company's stock worth $60,000 after buying an additional 1,893 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Centuri in the 4th quarter worth about $62,000. Corebridge Financial Inc. boosted its holdings in Centuri by 15.7% in the 4th quarter. Corebridge Financial Inc. now owns 8,459 shares of the company's stock worth $163,000 after buying an additional 1,146 shares during the last quarter. Deutsche Bank AG boosted its holdings in Centuri by 31.4% in the 4th quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock worth $167,000 after buying an additional 2,068 shares during 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 worth $186,000 after buying 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.