Centuri (NYSE:CTRI) Sees Unusually-High Trading Volume – What’s Next?

Shares of Centuri Holdings, Inc. (NYSE:CTRI) saw unusually-strong trading volume on Wednesday . Approximately 2,693,094 shares changed hands during trading, an increase of 152% from the previous session’s volume of 1,068,733 shares.The stock last traded at $22.22 and had previously closed at $19.69.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CTRI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Centuri in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Centuri from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.33.

Centuri Stock Up 13.3%

The stock’s 50-day moving average price is $20.99 and its two-hundred day moving average price is $20.74. The stock has a market capitalization of $1.98 billion, a P/E ratio of -744.72, a P/E/G ratio of 1.04 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.59.

Centuri (NYSE:CTRI) 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). Centuri had a positive return on equity of 4.74% and a negative net margin of 0.12%.The business had revenue of $724.05 million during the quarter, compared to the consensus estimate of $702.35 million. During the same period last year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

Large investors have recently added to or reduced their stakes in the business. Cooper Creek Partners Management LLC bought a new stake in Centuri in the 2nd quarter worth $49,416,000. Balyasny Asset Management L.P. bought a new stake in Centuri in the 2nd quarter worth $36,165,000. Adage Capital Partners GP L.L.C. bought a new stake in Centuri in the 2nd quarter worth $30,725,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Centuri by 13,573.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,316,039 shares of the company’s stock worth $21,570,000 after acquiring an additional 1,306,414 shares during the last quarter. Finally, Carronade Capital Management LP grew its holdings in Centuri by 1,394.5% in the 2nd quarter. Carronade Capital Management LP now owns 1,353,425 shares of the company’s stock worth $30,371,000 after acquiring an additional 1,262,867 shares during the last quarter.

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.