Cosan (NYSE:CSAN) Upgraded to "Moderate Sell" at Hsbc Global Res

Key Points

• Cosan has been upgraded to a "moderate sell" rating by HSBC Global Research following recent earnings results that fell short of expectations.
• The company's stock price target was set at $4.40 by HSBC, while Goldman Sachs reduced its target from $6.60 to $5.00, indicating a generally cautious outlook among analysts.
• Despite the downgrade, Cosan's stock opened at $4.98, showing a 4.3% increase, while the company has an average price target of $9.47 according to MarketBeat.com.

Cosan (NYSE:CSAN - Get Free Report) was upgraded by Hsbc Global Res to a "moderate sell" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on CSAN. Wall Street Zen upgraded Cosan from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. HSBC reiterated a "reduce" rating and issued a $4.40 target price on shares of Cosan in a research note on Monday. The Goldman Sachs Group lowered their target price on Cosan from $6.60 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, August 27th. Finally, Zacks Research lowered Cosan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.47.

Cosan Stock Up 4.3%

Shares of NYSE:CSAN opened at $4.98 on Monday. The stock's fifty day simple moving average is $4.56 and its 200-day simple moving average is $5.04. Cosan has a 52-week low of $3.80 and a 52-week high of $10.12. The company has a market capitalization of $2.32 billion, a P/E ratio of 3.77, a P/E/G ratio of 0.33 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 2.13 and a debt-to-equity ratio of 1.88.

Cosan (NYSE:CSAN - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.36) earnings per share for the quarter. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $7.12 billion. Cosan had a negative return on equity of 27.61% and a negative net margin of 28.08%. As a group, equities research analysts forecast that Cosan will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cosan

A number of hedge funds have recently bought and sold shares of CSAN. BNP Paribas Financial Markets bought a new position in Cosan during the 4th quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in Cosan by 799.4% during the 1st quarter. GAMMA Investing LLC now owns 5,747 shares of the company's stock worth $30,000 after buying an additional 5,108 shares during the last quarter. FORA Capital LLC bought a new position in Cosan during the 1st quarter worth approximately $58,000. Ballentine Partners LLC bought a new position in Cosan during the 2nd quarter worth approximately $64,000. Finally, Cerity Partners LLC bought a new position in Cosan during the 1st quarter worth approximately $69,000.

Cosan Company Profile

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.

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