Cosan S.A. Sponsored ADR (NYSE:CSAN) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Cosan has a consensus “Reduce” rating from six analysts: two recommend selling and four advise holding. The average 12-month price target is $3.85, above the latest share price of $2.88.
• Analyst views have generally weakened or remained cautious, including HSBC’s downgrade to “Reduce” and price-target cut to $3.20, while Zacks Research and Citigroup upgraded the stock to “Hold.”
• CEO Marcelo Eduardo Martins bought approximately 2.44 million shares worth $12.5 million, nearly doubling his holdings, while director Rubens Ometto Silveira Mello sold 77,640 shares for about $267,000.

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) have earned a consensus recommendation of "Reduce" from the six analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.85.

Several equities analysts have commented on the company. Zacks Research upgraded Cosan to a "hold" rating in a research report on Thursday, June 18th. HSBC downgraded Cosan from a "hold" rating to a "reduce" rating and lowered their price objective for the company from $5.00 to $3.20 in a research note on Tuesday, May 26th. Citigroup upgraded shares of Cosan to a "hold" rating in a report on Monday, June 29th. Jefferies Financial Group downgraded shares of Cosan to a "hold" rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Cosan in a report on Tuesday, June 9th.

Insider Buying and Selling at Cosan

In other Cosan news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $5.14 per share, with a total value of $12,549,453.92. Following the completion of the purchase, the chief executive officer owned 4,890,286 shares of the company's stock, valued at approximately $25,136,070.04. The trade was a 99.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $3.44, for a total transaction of $267,081.60. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CSAN. SmartHarvest Portfolios LLC bought a new stake in shares of Cosan in the 1st quarter valued at about $46,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cosan during the fourth quarter worth about $46,000. Royal Bank of Canada raised its position in shares of Cosan by 3,266.6% during the first quarter. Royal Bank of Canada now owns 12,389 shares of the company's stock worth $51,000 after acquiring an additional 12,021 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Cosan in the fourth quarter worth approximately $53,000. Finally, Blue Trust Inc. lifted its stake in shares of Cosan by 12,141.9% in the first quarter. Blue Trust Inc. now owns 12,854 shares of the company's stock worth $53,000 after acquiring an additional 12,749 shares during the period.

Cosan Trading Down 3.2%

Shares of CSAN stock opened at $2.88 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of -1.17 and a beta of 0.70. Cosan has a twelve month low of $2.52 and a twelve month high of $6.01. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. The stock's fifty day simple moving average is $2.93 and its 200 day simple moving average is $3.77.

About Cosan

Cosan Limited NYSE: CSAN is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil's largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.

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