Wells Fargo & Company Lowers Centuri (NYSE:CTRI) Price Target to $32.00

Key Points

• Wells Fargo cut Centuri's price target from $34.00 to $32.00 while maintaining an "overweight" rating, implying roughly a 5.6% upside from the current share price.
• Analyst coverage is mixed — two Buys, one Hold and two Sells — and MarketBeat's consensus is a "Hold" with a lower consensus target of $28.85.
• CTRI traded at $30.31 (near a 52-week high of $32.38); the latest quarter showed revenue up 19.7% year-over-year but an EPS of $0.17 that missed estimates, and the shares carry a high PE (~132).

Centuri (NYSE:CTRI - Get Free Report) had its price objective reduced by Wells Fargo & Company from $34.00 to $32.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 5.59% from the company's current price.

CTRI has been the subject of a number of other research reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Centuri in a report on Friday. Cantor Fitzgerald upped their price target on 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.85.

Centuri Stock Performance

CTRI stock traded up $1.10 during trading hours on Wednesday, reaching $30.31. The stock had a trading volume of 235,226 shares, compared to its average volume of 1,397,115. Centuri has a fifty-two week low of $14.45 and a fifty-two week high of $32.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $3.06 billion, a PE ratio of 131.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.63. The stock has a 50-day simple moving average of $29.73 and a 200 day simple moving average of $25.35.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). The company had revenue of $858.60 million for the quarter, compared to the consensus estimate of $740.62 million. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The company's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. Analysts predict that Centuri will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Centuri Company Profile

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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