UBS Group Downgrades Centuri (NYSE:CTRI) to Neutral

UBS Group cut shares of Centuri (NYSE:CTRI) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat reports. They currently have $17.00 price target on the stock, down from their prior price target of $30.00.

A number of other equities research analysts also recently weighed in on the company. KeyCorp initiated coverage on Centuri in a report on Thursday, June 27th. They issued a sector weight rating for the company. Wells Fargo & Company initiated coverage on Centuri in a report on Monday, May 13th. They issued an overweight rating and a $29.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Centuri in a report on Monday, May 13th. They issued a neutral rating and a $28.00 target price for the company. Bank of America reiterated an underperform rating and issued a $21.00 target price (down from $26.00) on shares of Centuri in a report on Thursday, June 27th. Finally, Baird R W upgraded Centuri to a strong-buy rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $20.60.

Centuri Stock Down 0.4 %

Centuri stock opened at $16.28 on Tuesday. The business has a 50 day moving average of $22.64. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 5.91. Centuri has a one year low of $14.73 and a one year high of $28.65.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $672.08 million during the quarter, compared to analyst estimates of $760.55 million. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities research analysts forecast that Centuri will post 0.51 EPS for the current fiscal year.

Insider Activity

In other news, Director William Fehrman acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average price of $16.50 per share, for a total transaction of $330,000.00. Following the completion of the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Centuri stock. Rhumbline Advisers acquired a new position in Centuri Holdings, Inc. (NYSE:CTRI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,382 shares of the company’s stock, valued at approximately $300,000.

About Centuri

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.