Wells Fargo & Company Increases Centuri (NYSE:CTRI) Price Target to $34.00

Centuri (NYSE:CTRI) had its price target boosted by investment analysts at Wells Fargo & Company from $30.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.94% from the stock’s current price.

Several other brokerages have also recently weighed in on CTRI. UBS Group raised their price target on shares of Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Cantor Fitzgerald began coverage on shares of Centuri in a research note on Friday, January 23rd. They issued an “overweight” rating and a $34.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centuri currently has an average rating of “Hold” and a consensus price target of $28.81.

Centuri Price Performance

CTRI stock opened at $30.93 on Thursday. The stock has a 50-day moving average price of $28.26 and a two-hundred day moving average price of $23.95. Centuri has a 1 year low of $14.45 and a 1 year high of $32.38. The stock has a market cap of $3.08 billion, a PE ratio of 134.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.54.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centuri had a return on equity of 5.80% and a net margin of 0.76%.The firm had revenue of $858.60 million for the quarter, compared to analyst estimates of $740.62 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. Equities analysts forecast that Centuri will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Centuri

In other Centuri news, CEO Christian Brown sold 7,108 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the sale, the chief executive officer owned 22,089 shares in the company, valued at $541,401.39. This represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Centuri

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Centuri by 59.1% in the second quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock valued at $11,847,000 after purchasing an additional 195,992 shares in the last quarter. Quadrature Capital Ltd bought a new position in Centuri in the 2nd quarter valued at about $964,000. New York State Common Retirement Fund raised its position in shares of Centuri by 3,300.4% in the 3rd quarter. New York State Common Retirement Fund now owns 187,023 shares of the company’s stock valued at $3,959,000 after buying an additional 181,523 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Centuri during the 3rd quarter worth approximately $1,611,000. Finally, Carronade Capital Management LP boosted its position in shares of Centuri by 1,394.5% during 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 in the last quarter.

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.