Centuri (NYSE:CTRI) Stock Price Target Lowered at Wells Fargo & Company

Centuri (NYSE:CTRI) had its target price decreased by investment analysts at Wells Fargo & Company from $28.00 to $24.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 21.40% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Bank of America reduced their target price on Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a report on Friday, September 4th. Weiss Ratings downgraded Centuri from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Wall Street Zen lowered Centuri from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. dropped their price target on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Finally, Cantor Fitzgerald raised their price objective on Centuri from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Centuri has a consensus rating of “Hold” and a consensus target price of $27.50.

Centuri Stock Up 6.0%

Shares of CTRI stock traded up $1.12 during trading hours on Friday, hitting $19.77. 387,196 shares of the company were exchanged, compared to its average volume of 1,630,321. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 63.90, a P/E/G ratio of 0.67 and a beta of 0.94. Centuri has a one year low of $18.50 and a one year high of $42.99. The business’s 50-day simple moving average is $20.33 and its two-hundred day simple moving average is $27.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.82 and a current ratio of 1.82.

Centuri (NYSE:CTRI) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.04 billion. Centuri had a return on equity of 5.85% and a net margin of 0.86%. The company’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. Sell-side analysts predict that Centuri will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dustin DeMaria acquired 5,200 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was bought at an average price of $19.27 per share, for a total transaction of $100,204.00. Following the transaction, the director owned 12,936 shares of the company’s stock, valued at approximately $249,276.72. The trade was a 67.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRI. Versant Capital Management Inc increased its position in shares of Centuri by 0.7% in the third quarter. Versant Capital Management Inc now owns 72,123 shares of the company’s stock worth $1,445,000 after acquiring an additional 510 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Centuri by 99.4% during the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock valued at $27,000 after acquiring an additional 668 shares during the period. State of Wyoming raised its holdings in shares of Centuri by 5.0% during the first quarter. State of Wyoming now owns 15,880 shares of the company’s stock valued at $464,000 after acquiring an additional 752 shares during the period. Covestor Ltd lifted its position in shares of Centuri by 52.5% in the 3rd quarter. Covestor Ltd now owns 2,967 shares of the company’s stock valued at $59,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Centuri in the second quarter valued at $33,000.

Centuri Company Profile

Centuri Holdings, Inc is a strategic infrastructure services company that supports the development, maintenance and modernization of energy and utility systems. The company provides construction and related services for natural gas and electric distribution infrastructure, including pipelines, utility networks and other assets used to deliver energy to homes, businesses and communities.

Centuri also serves customers in areas such as electric transmission, renewable energy and broader utility infrastructure.