HSBC Reiterates "Reduce" Rating for Cosan (NYSE:CSAN)

Key Points

• HSBC has maintained a "reduce" rating on Cosan (NYSE:CSAN) with a price target of $4.40, indicating a potential downside of 1.30% from the stock's previous close.
• Goldman Sachs has lowered Cosan's price objective from $6.60 to $5.00 and assigned a "neutral" rating, while Zacks Research downgraded it from "strong-buy" to "hold."
• Cosan's stock has a 12-month low of $3.80 and a high of $10.12, and currently has a consensus rating of "Hold" with an average price target of $9.47.

Cosan (NYSE:CSAN - Get Free Report)'s stock had its "reduce" rating reiterated by HSBC in a research note issued to investors on Monday,Benzinga reports. They presently have a $4.40 price target on the stock. HSBC's target price would indicate a potential downside of 1.30% from the company's previous close.

CSAN has been the topic of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of Cosan from $6.60 to $5.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Cosan from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Zacks Research downgraded Cosan from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $9.47.

Cosan Price Performance

Cosan stock opened at $4.46 on Monday. The stock has a market cap of $2.08 billion, a P/E ratio of 3.38, a PEG ratio of 0.38 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88. Cosan has a 12-month low of $3.80 and a 12-month high of $10.12. The company has a 50-day moving average price of $4.54 and a 200 day moving average price of $5.05.

Cosan (NYSE:CSAN - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.36) EPS for the quarter. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $7.12 billion. Cosan had a negative net margin of 28.08% and a negative return on equity of 27.61%. Sell-side analysts anticipate that Cosan will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On Cosan

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Cosan in the 2nd quarter worth approximately $3,049,000. Cubist Systematic Strategies LLC boosted its stake in shares of Cosan by 3,995.3% during the first quarter. Cubist Systematic Strategies LLC now owns 306,859 shares of the company's stock valued at $1,602,000 after purchasing an additional 299,366 shares during the period. Martin Currie Ltd. boosted its position in shares of Cosan by 20.1% in the 1st quarter. Martin Currie Ltd. now owns 1,439,121 shares of the company's stock worth $7,512,000 after purchasing an additional 240,613 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Cosan by 142.8% during the fourth quarter. Millennium Management LLC now owns 364,718 shares of the company's stock valued at $1,984,000 after acquiring an additional 214,485 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Cosan by 113,135.4% during the first quarter. Royal Bank of Canada now owns 198,162 shares of the company's stock worth $1,034,000 after purchasing an additional 197,987 shares during the period.

About Cosan

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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