Cosan Limited (NYSE:CZZ) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research note issued to investors on Friday, October 20th. The brokerage currently has a $10.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.37% from the company’s previous close.
According to Zacks, “In the last three months, Cosan's American Depository Receipts (ADR) have outperformed the industry. We believe that Cosan constantly strives to improve its production capabilities and services to capitalize on the growing sugar and ethanol demand. Also, its strategy of expanding its network of service stations aided growth over time. Exiting second-quarter 2017, the company had 6,068 Shell branded service stations. Also, its organic and inorganic growth initiatives bode well. For 2017, the company anticipates revenues in the range of R$45-R$48 billion for Cosan S.A. and earnings before interest, tax, depreciation and amortization (EBITDA) within R$4.8-R$5.3 billion.”
Several other research firms also recently weighed in on CZZ. BidaskClub raised shares of Cosan Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. ValuEngine downgraded shares of Cosan Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Credit Suisse Group upgraded shares of Cosan Limited from a “neutral” rating to an “outperform” rating in a research report on Monday, October 9th. Finally, Morgan Stanley cut shares of Cosan Limited from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.00.
Cosan Limited (CZZ) traded up $0.09 during trading on Friday, reaching $8.52. 2,203,703 shares of the company’s stock traded hands, compared to its average volume of 1,164,801. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.32 and a quick ratio of 1.23. The company has a market capitalization of $1,436.10, a P/E ratio of 11.22 and a beta of 2.35. Cosan Limited has a 1-year low of $5.63 and a 1-year high of $9.45.
Hedge funds have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC purchased a new position in shares of Cosan Limited in the second quarter valued at about $108,000. Vanguard Group Inc. increased its position in shares of Cosan Limited by 5.8% in the first quarter. Vanguard Group Inc. now owns 3,164,399 shares of the basic materials company’s stock valued at $27,024,000 after acquiring an additional 173,302 shares during the period. Renaissance Group LLC increased its position in shares of Cosan Limited by 9.9% during the second quarter. Renaissance Group LLC now owns 57,293 shares of the basic materials company’s stock valued at $367,000 after buying an additional 5,167 shares during the period. Caxton Associates LP purchased a new position in shares of Cosan Limited during the first quarter valued at about $301,000. Finally, Prudential PLC increased its position in shares of Cosan Limited by 18.4% during the second quarter. Prudential PLC now owns 7,445,135 shares of the basic materials company’s stock valued at $47,723,000 after buying an additional 1,155,649 shares during the period. Hedge funds and other institutional investors own 42.62% of the company’s stock.
Cosan Limited Company Profile
Cosan Limited (Cosan) is a holding company. The Company’s segments include Raizen Energia, Raizen Combustiveis, COMGAS, Cosan Logistica, Lubricants and Other business. The Company’s other business include other investments, in addition to the corporate activities. The Company offers Logistics services, including transportation, port loading and storage of sugar, leasing or lending of locomotives, wagons and other railway equipment, through its subsidiaries Rumo Logistica Operadora Multimodal SA (Rumo), logistic segment (Logistic).
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