Wells Fargo & Company Cuts Centuri (NYSE:CTRI) Price Target to $29.00

Centuri (NYSE:CTRI) had its target price lowered by Wells Fargo & Company from $37.00 to $29.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently issued reports on CTRI. JPMorgan Chase & Co. lifted their price objective on Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a report on Friday, May 8th. Wall Street Zen downgraded Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research note on Wednesday, June 24th. Cantor Fitzgerald dropped their target price on shares of Centuri from $46.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Robert W. Baird set a $33.00 target price on shares of Centuri in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.40.

Centuri Trading Up 6.8%

Shares of Centuri stock opened at $23.86 on Wednesday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 76.98, a PEG ratio of 0.74 and a beta of 1.10. The company has a current ratio of 1.82, a quick ratio of 1.88 and a debt-to-equity ratio of 0.81. Centuri has a 12-month low of $19.04 and a 12-month high of $42.99. The firm’s 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $30.03.

Centuri (NYSE:CTRI) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. Centuri had a net margin of 0.86% and a return on equity of 5.85%. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was up 32.9% on a year-over-year basis. Analysts predict that Centuri will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after acquiring an additional 1,874 shares in the last quarter. KBC Group NV acquired a new stake in Centuri in the first quarter valued at $67,000. CWM LLC increased its position in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock valued at $102,000 after buying an additional 1,512 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Centuri by 121.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after buying an additional 3,037 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Centuri during the 1st quarter worth $183,000.

Centuri Company Profile

Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.