JPMorgan Chase & Co. Raises Centuri (NYSE:CTRI) Price Target to $20.00

Key Points

• JPMorgan Chase & Co. raised its price target for Centuri (NYSE:CTRI) from $19.00 to $20.00, indicating a potential downside of 3.43% from the stock's previous close while maintaining an "underweight" rating.
• Various analysts have differing opinions on Centuri, with Wells Fargo raising its target to $25.00 and issuing an "overweight" rating, while Weiss Ratings reaffirmed a "sell" rating, leading to a consensus rating of "Hold."
• Centuri reported $0.19 EPS for the most recent quarter, missing estimates, but revenue was up 7.7% year-over-year, reflecting performance amidst mixed analyst outlooks.

Centuri (NYSE:CTRI - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $19.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 3.43% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company raised their price target on Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Centuri in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Centuri has a consensus rating of "Hold" and a consensus price target of $22.33.

Centuri Stock Down 2.0%

Shares of NYSE CTRI traded down $0.42 during trading hours on Thursday, hitting $20.71. The company had a trading volume of 160,288 shares, compared to its average volume of 1,038,304. The stock has a market capitalization of $1.84 billion, a P/E ratio of -692.10, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.59. Centuri has a 1-year low of $14.45 and a 1-year high of $24.60. The firm's 50 day moving average is $21.02 and its 200-day moving average is $20.32.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $724.05 million during the quarter, compared to analyst estimates of $702.35 million. Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. On average, analysts expect that Centuri will post 0.25 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 the company. Voya Investment Management LLC acquired a new stake in shares of Centuri during the third quarter worth $237,000. Carronade Capital Management LP lifted its holdings in shares of Centuri by 1,394.5% during the second quarter. Carronade Capital Management LP now owns 1,353,425 shares of the company's stock worth $30,371,000 after buying an additional 1,262,867 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Centuri during the second quarter worth $1,683,000. Tower Research Capital LLC TRC increased its position in shares of Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock worth $124,000 after purchasing an additional 3,037 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Centuri by 188.3% in the second quarter. BNP Paribas Financial Markets now owns 27,949 shares of the company's stock worth $627,000 after purchasing an additional 18,254 shares during the period.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.

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