Central Puerto (NYSE:CEPU) Shares Down 5.7% on Analyst Downgrade

Key Points

• Central Puerto shares fell 5.7% to about $13.65 after Bank of America cut its price target from $29 to $28, while maintaining a Buy rating.
• Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $22.75; two analysts rate the stock Buy and one rates it Hold.
• Several institutional investors recently initiated positions, but hedge funds and institutions collectively own only 2.97% of the company. Central Puerto has a $2.07 billion market capitalization and operates power-generation facilities in Argentina.

Central Puerto S.A. Sponsored ADR (NYSE:CEPU - Get Free Report) shares traded down 5.7% on Friday after Bank of America lowered their price target on the stock from $29.00 to $28.00. Bank of America currently has a buy rating on the stock. Central Puerto traded as low as $13.75 and last traded at $13.6490. Approximately 238,828 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 310,205 shares. The stock had previously closed at $14.48.

Several other research firms also recently commented on CEPU. Weiss Ratings reissued a "hold (c)" rating on shares of Central Puerto in a report on Wednesday, August 26th. Wall Street Zen lowered Central Puerto from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in shares of Central Puerto during the 1st quarter valued at $41,000. Tidal Investments LLC acquired a new position in Central Puerto during the 2nd quarter valued at about $159,000. Arrowstreet Capital Limited Partnership acquired a new position in Central Puerto during the 1st quarter valued at about $271,000. Banco BTG Pactual S.A. acquired a new stake in Central Puerto in the fourth quarter worth about $476,000. Finally, Walleye Capital LLC purchased a new stake in shares of Central Puerto during the first quarter worth about $1,349,000. 2.97% of the stock is currently owned by hedge funds and other institutional investors.

Central Puerto Trading Down 5.5%

The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 4.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.28 and a quick ratio of 1.19. The company's fifty day moving average price is $14.11 and its 200-day moving average price is $14.78.

About Central Puerto

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina's interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina's electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina's electricity sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.