Cosan S.A. Sponsored ADR (NYSE:CSAN) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) have received a consensus recommendation of “Reduce” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $3.85.

A number of research analysts have recently commented on the company. Citigroup upgraded Cosan to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. Zacks Research upgraded shares of Cosan to a “hold” rating in a report on Thursday, June 18th. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group lowered shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th.

Cosan Stock Performance

Cosan stock opened at $3.08 on Wednesday. Cosan has a fifty-two week low of $2.52 and a fifty-two week high of $6.01. The stock’s 50 day simple moving average is $3.11 and its two-hundred day simple moving average is $3.88. 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 stock has a market cap of $3.05 billion, a price-to-earnings ratio of -1.25 and a beta of 0.72.

Insider Buying and Selling at Cosan

In other Cosan news, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the acquisition, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at approximately $25,136,070.04. This trade represents a 99.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $5.48, for a total value of $204,952.00. Following the completion of the sale, the insider directly owned 2,128,536 shares in the company, valued at approximately $11,664,377.28. This represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 151,240 shares of company stock valued at $670,410.

Institutional Investors Weigh In On Cosan

Several hedge funds have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC bought a new position in shares of Cosan during the first quarter valued at $46,000. Caitong International Asset Management Co. Ltd bought a new position in Cosan in the 4th quarter worth about $46,000. Royal Bank of Canada boosted its stake in Cosan by 3,266.6% in the 1st quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after purchasing an additional 12,021 shares in the last quarter. Tuttle Capital Management LLC purchased a new stake in Cosan during the 4th quarter valued at about $51,000. Finally, Blue Trust Inc. increased its stake in Cosan by 12,141.9% during the 1st quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock valued at $53,000 after purchasing an additional 12,749 shares in 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.