Centuri (NYSE:CTRI) Reaches New 12-Month Low - What's Next?

Key Points

• Centuri shares fell to a new 52-week low of $18.76 and last traded near $19.04, down 2.5%, with the stock well below its 50-day and 200-day moving averages.
• Analyst sentiment has weakened, with multiple firms cutting price targets; the stock carries a consensus rating of “Hold” and an average target price of $28.33.
• Despite the share-price decline, Centuri reported quarterly EPS and revenue above expectations, with revenue rising 32.9% year over year. Insider and institutional investors have also recently increased their holdings.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $18.76 and last traded at $19.0390, with a volume of 278,750 shares trading hands. The stock had previously closed at $19.79.

Analysts Set New Price Targets

CTRI has been the subject of several research reports. Wall Street Zen downgraded shares of Centuri from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. reduced their price objective on Centuri from $23.00 to $22.00 and set an "underweight" rating on the stock in a research note on Monday. Bank of America decreased their target price on Centuri from $33.50 to $21.00 and set an "underperform" rating for the company in a report on Friday, September 4th. Wells Fargo & Company decreased their target price on Centuri from $37.00 to $29.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Finally, Robert W. Baird decreased their price objective on Centuri from $33.00 to $26.00 and set an "outperform" rating for the company in a research note on Tuesday, September 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Centuri presently has an average rating of "Hold" and a consensus target price of $28.33.

Centuri Stock Down 2.5%

The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.95 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 0.65 and a beta of 1.01. The firm has a fifty day moving average of $20.65 and a 200 day moving average of $26.74.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. Centuri had a return on equity of 5.85% and a net margin of 0.86%. The business had revenue of $959.53 million during the quarter, compared to analysts' expectations of $835.99 million. During the same period in the prior year, the firm posted $0.19 EPS. The business's quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts anticipate that Centuri Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dustin DeMaria acquired 5,200 shares of Centuri stock in a transaction dated Friday, September 18th. The stock was acquired at an average price of $19.27 per share, for a total transaction of $100,204.00. Following the transaction, the director owned 12,936 shares of the company's stock, valued at $249,276.72. This represents a 67.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CTRI. Reinhart Partners LLC. purchased a new stake in Centuri in the third quarter valued at approximately $76,741,000. Verbena Value LP grew its position in shares of Centuri by 31.3% during the first quarter. Verbena Value LP now owns 1,771,457 shares of the company's stock worth $51,744,000 after acquiring an additional 422,593 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Centuri by 11.5% during the first quarter. Renaissance Technologies LLC now owns 934,300 shares of the company's stock worth $27,291,000 after acquiring an additional 96,600 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Centuri by 46.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company's stock valued at $25,998,000 after acquiring an additional 281,264 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Centuri in the 2nd quarter valued at $23,153,000.

About Centuri

Centuri Holdings, Inc is a strategic infrastructure services company that supports the development, maintenance and modernization of energy and utility systems. The company provides construction and related services for natural gas and electric distribution infrastructure, including pipelines, utility networks and other assets used to deliver energy to homes, businesses and communities.

Centuri also serves customers in areas such as electric transmission, renewable energy and broader utility infrastructure.

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