Citigroup Upgrades Cosan (NYSE:CSAN) to “Hold”

Cosan (NYSE:CSAN) was upgraded by research analysts at Citigroup to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Cosan to a “hold” rating in a research report on Tuesday, May 26th. Zacks Research raised shares of Cosan to a “hold” rating in a research report on Thursday, June 18th. HSBC downgraded Cosan from a “hold” rating to a “reduce” rating and lowered their price target for the company from $5.00 to $3.20 in a report on Tuesday, May 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cosan in a research note on Tuesday, June 9th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Cosan has a consensus rating of “Reduce” and an average price target of $3.85.

Cosan Stock Up 0.9%

CSAN opened at $2.88 on Monday. Cosan has a 1 year low of $2.52 and a 1 year high of $6.01. The firm has a 50 day moving average price of $3.34 and a 200 day moving average price of $3.97. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.76 and a current ratio of 1.87. The company has a market cap of $2.85 billion, a PE ratio of -1.17 and a beta of 0.74.

Insider Activity

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total value of $267,081.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the completion of the purchase, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at approximately $25,136,070.04. The trade was a 99.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 187,040 shares of company stock worth $869,816.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in shares of Cosan by 36.9% during the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock worth $13,797,000 after buying an additional 941,548 shares during the last quarter. Monaco Asset Management SAM increased its position in Cosan by 200.5% during the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock worth $11,869,000 after acquiring an additional 2,004,813 shares during the period. Balyasny Asset Management L.P. increased its position in Cosan by 5,210.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 776,592 shares of the company’s stock worth $3,068,000 after acquiring an additional 761,968 shares during the period. XTX Topco Ltd raised its stake in Cosan by 1,312.8% during the 4th quarter. XTX Topco Ltd now owns 588,722 shares of the company’s stock valued at $2,325,000 after purchasing an additional 547,051 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Cosan by 235.0% during the 3rd quarter. Millennium Management LLC now owns 487,514 shares of the company’s stock valued at $2,243,000 after purchasing an additional 341,973 shares during the last quarter.

Cosan Company Profile

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.