Centuri (NYSE:CTRI) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Centuri from a hold to a buy rating, even though the broader analyst view remains cautious. MarketBeat says the stock’s consensus rating is still Hold with an average price target of $37.80.
• CTRI shares fell 2.1% to $25.73 despite the upgrade. The stock is trading well below its 52-week high of $42.99 and below both its 50-day and 200-day moving averages.
• Centuri’s latest earnings beat expectations, reporting a smaller-than-expected loss of $0.02 per share on revenue of $688.69 million, up 31.5% year over year. Analysts currently forecast full-year earnings of $0.61 per share.

Centuri (NYSE:CTRI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

A number of other research firms have also recently weighed in on CTRI. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centuri in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of Centuri from $26.00 to $29.00 and gave the company an "underweight" rating in a research report on Friday, May 8th. UBS Group increased their target price on shares of Centuri from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Cantor Fitzgerald increased their target price on shares of Centuri from $37.40 to $46.00 and gave the stock an "overweight" rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company upped 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. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $37.80.

Centuri Trading Down 2.1%

Shares of CTRI stock traded down $0.55 during trading on Friday, hitting $25.73. 1,563,343 shares of the stock traded hands, compared to its average volume of 1,426,841. Centuri has a 52-week low of $19.04 and a 52-week high of $42.99. The firm has a market capitalization of $2.60 billion, a P/E ratio of 75.69, a price-to-earnings-growth ratio of 0.85 and a beta of 1.06. The firm's fifty day moving average price is $30.75 and its 200-day moving average price is $30.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.88 and a quick ratio of 1.88.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The company had revenue of $688.69 million during 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 for the quarter was up 31.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. As a group, research analysts forecast that Centuri will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

Several institutional investors have recently modified their holdings of CTRI. Caitong International Asset Management Co. Ltd boosted its holdings in 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 purchasing an additional 1,874 shares during the period. KBC Group NV purchased a new position in Centuri in the first quarter worth approximately $67,000. CWM LLC increased its position in shares of Centuri by 59.7% in the 4th quarter. CWM LLC now owns 4,045 shares of the company's stock valued at $102,000 after purchasing an additional 1,512 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Centuri by 121.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after purchasing an additional 3,037 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Centuri in the 1st quarter valued at $183,000.

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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