JPMorgan Chase & Co. Issues Positive Forecast for Centuri (NYSE:CTRI) Stock Price

Key Points

• JPMorgan Chase raised its price target on Centuri from $26 to $29 but kept an "underweight" rating, with the $29 target implying roughly a 14.1% downside from the current price.
• Several other analysts (Wells Fargo, Robert W. Baird, Cantor Fitzgerald) have pushed targets higher and given overweight/buy ratings, yet the MarketBeat consensus remains a Hold with an average target of $33.68.
• Centuri beat quarterly estimates with revenue of $688.7M (up 31.5% YoY) and EPS of -$0.02, and the stock was trading near $33.75 following the report.

Centuri (NYSE:CTRI - Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $26.00 to $29.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential downside of 14.07% from the stock's current price.

Several other research firms have also recently weighed in on CTRI. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centuri in a research report on Friday, March 27th. Wells Fargo & Company raised their target price on Centuri from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday. Robert W. Baird set a $41.00 price target on Centuri in a research note on Friday. Finally, Cantor Fitzgerald boosted their target price on shares of Centuri from $35.25 to $37.40 and gave the company an "overweight" rating in a research report on Wednesday, March 25th. Two equities research 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, the company currently has an average rating of "Hold" and a consensus target price of $33.68.

Centuri Trading Up 0.4%

Shares of CTRI stock traded up $0.15 on Friday, hitting $33.75. The company had a trading volume of 1,164,625 shares, compared to its average volume of 1,392,622. Centuri has a twelve month low of $17.97 and a twelve month high of $42.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $3.40 billion, a P/E ratio of 99.16, a P/E/G ratio of 1.74 and a beta of 1.34. The stock's 50-day moving average is $31.88 and its two-hundred day moving average is $27.61.

Centuri (NYSE:CTRI - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. Centuri had a return on equity of 6.03% and a net margin of 0.98%.The business had revenue of $688.69 million for the quarter, compared to analysts' expectations of $618.87 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The firm's revenue was up 31.5% on a year-over-year basis. On average, equities research analysts anticipate that Centuri will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centuri

A number of hedge funds and other institutional investors have recently modified their holdings of CTRI. JPMorgan Chase & Co. increased its stake in Centuri by 6.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company's stock worth $329,000 after purchasing an additional 890 shares during the period. Police & Firemen s Retirement System of New Jersey raised its holdings in Centuri by 7.0% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,461 shares of the company's stock valued at $517,000 after buying an additional 1,337 shares during the last quarter. Arizona State Retirement System boosted its position in Centuri by 5.9% during the 4th quarter. Arizona State Retirement System now owns 25,041 shares of the company's stock valued at $632,000 after buying an additional 1,400 shares during the period. CWM LLC boosted its position in Centuri by 59.7% during the 4th quarter. CWM LLC now owns 4,045 shares of the company's stock valued at $102,000 after buying an additional 1,512 shares during the period. Finally, Sandia Investment Management LP grew its holdings in Centuri by 11.9% in the 4th quarter. Sandia Investment Management LP now owns 15,000 shares of the company's stock worth $379,000 after acquiring an additional 1,600 shares during the last quarter.

About Centuri

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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