Cantor Fitzgerald Issues Positive Forecast for Centuri (NYSE:CTRI) Stock Price

Centuri (NYSE:CTRI) had its price target boosted by investment analysts at Cantor Fitzgerald from $37.40 to $46.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 33.34% from the company’s current price.

CTRI has been the subject of several other reports. Robert W. Baird set a $41.00 price target on Centuri in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research note on Friday. Wells Fargo & Company increased their price objective on Centuri from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Centuri from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.40.

Centuri Stock Down 0.1%

Centuri stock traded down $0.03 during mid-day trading on Monday, reaching $34.50. The company’s stock had a trading volume of 28,748 shares, compared to its average volume of 1,392,614. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 1.88. Centuri has a 12 month low of $17.97 and a 12 month high of $42.99. The business’s 50 day simple moving average is $31.88 and its 200 day simple moving average is $27.61. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 101.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.34.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $688.69 million during the quarter, compared to the consensus estimate of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The company’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) EPS. As a group, research analysts anticipate that Centuri will post 0.59 earnings per share for the current year.

Institutional Trading of Centuri

Several hedge funds have recently added to or reduced their stakes in CTRI. Vanguard Group Inc. lifted its holdings in shares of Centuri by 126.0% during the third quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock worth $170,625,000 after buying an additional 4,493,955 shares during the last quarter. Icahn Carl C raised its stake in Centuri by 69.4% during the 3rd quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock valued at $229,645,000 after purchasing an additional 4,443,795 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Centuri in the third quarter valued at about $78,222,000. Samlyn Capital LLC acquired a new stake in Centuri during the third quarter worth about $36,838,000. Finally, Carronade Capital Management LP increased its stake in Centuri by 125.6% during the third quarter. Carronade Capital Management LP now owns 3,052,817 shares of the company’s stock valued at $64,628,000 after acquiring an additional 1,699,392 shares during the period.

About Centuri

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.