CI&T (NYSE:CINT) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded CI&T from “hold” to “strong sell,” while other analysts also reduced ratings or price targets. MarketBeat’s overall consensus remains “Hold,” with an average price target of $6.41.
• CI&T shares opened at $3.29, near their 52-week low of $3.03 and below the 50-day and 200-day moving averages of $3.54 and $4.31, respectively.
• The company’s latest quarterly results missed earnings expectations, reporting $0.06 in EPS versus the $0.09 consensus, though revenue of $136.61 million exceeded estimates. Institutional investors own approximately 92.45% of the stock.

CI&T (NYSE:CINT - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut CI&T from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Wedbush cut CI&T from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $7.00 to $4.00 in a report on Tuesday, July 21st. UBS Group boosted their target price on CI&T from $7.10 to $7.20 and gave the company a "buy" rating in a research report on Tuesday, May 12th. TD Cowen lowered their price target on CI&T from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of CI&T from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CI&T has an average rating of "Hold" and a consensus price target of $6.41.

CI&T Price Performance

CI&T stock opened at $3.29 on Tuesday. CI&T has a 52-week low of $3.03 and a 52-week high of $5.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $3.54 and its 200 day moving average is $4.31. The company has a market cap of $443.31 million, a price-to-earnings ratio of 10.63 and a beta of 0.81.

CI&T (NYSE:CINT - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The business had revenue of $136.61 million during the quarter, compared to analysts' expectations of $133.28 million. CI&T had a return on equity of 13.19% and a net margin of 7.90%. Sell-side analysts forecast that CI&T will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On CI&T

Large investors have recently bought and sold shares of the business. State Street Corp increased its stake in CI&T by 6.4% in the fourth quarter. State Street Corp now owns 62,242 shares of the company's stock worth $253,000 after purchasing an additional 3,719 shares during the period. Franklin Resources Inc. lifted its position in shares of CI&T by 45.7% during the fourth quarter. Franklin Resources Inc. now owns 15,892 shares of the company's stock worth $65,000 after purchasing an additional 4,983 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of CI&T by 50.6% during the fourth quarter. Wedbush Securities Inc. now owns 16,975 shares of the company's stock valued at $69,000 after purchasing an additional 5,700 shares during the period. Lazard Asset Management LLC grew its holdings in shares of CI&T by 6.4% in the first quarter. Lazard Asset Management LLC now owns 102,742 shares of the company's stock worth $521,000 after purchasing an additional 6,171 shares during the last quarter. Finally, R Squared Ltd grew its holdings in shares of CI&T by 24.1% in the first quarter. R Squared Ltd now owns 34,521 shares of the company's stock worth $175,000 after purchasing an additional 6,707 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

CI&T Company Profile

CI&T Inc NYSE: CINT is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.

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