Centuri (NYSE:CTRI) Sets New 52-Week Low – Time to Sell?

Shares of Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.03 and last traded at $19.0450, with a volume of 1319487 shares traded. The stock had previously closed at $19.57.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Cantor Fitzgerald raised their price target on Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Bank of America decreased their price objective on Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a report on Friday, September 4th. Wells Fargo & Company lowered their target price on Centuri from $37.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Robert W. Baird set a $33.00 target price on shares of Centuri in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Centuri from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.67.

Centuri Trading Down 2.7%

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.82 and a current ratio of 1.82. The stock’s fifty day moving average is $23.74 and its 200 day moving average is $28.58. The stock has a market cap of $1.92 billion, a P/E ratio of 61.44, a P/E/G ratio of 0.66 and a beta of 1.01.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Centuri had a return on equity of 5.85% and a net margin of 0.86%.The company had revenue of $959.53 million during the quarter, compared to analyst estimates of $835.99 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 32.9% on a year-over-year basis. As a group, equities research analysts predict that Centuri Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

A number of institutional investors and hedge funds have recently modified their holdings of CTRI. Tidal Investments LLC bought a new position in shares of Centuri during the 2nd quarter valued at approximately $1,978,000. Integrated Wealth Concepts LLC bought a new stake in Centuri in the second quarter worth $33,000. Baird Financial Group Inc. bought a new stake in Centuri in the second quarter worth $2,563,000. Corient Private Wealth LP boosted its stake in Centuri by 2.7% during the second quarter. Corient Private Wealth LP now owns 56,606 shares of the company’s stock worth $1,712,000 after buying an additional 1,471 shares during the period. Finally, Irenic Capital Management LP boosted its stake in Centuri by 46.2% during the second quarter. Irenic Capital Management LP now owns 518,705 shares of the company’s stock worth $15,686,000 after buying an additional 163,934 shares during the period.

Centuri Company Profile

Centuri Group, Inc is a North American utility infrastructure services company that supports the construction, maintenance and modernization of energy networks. The company primarily serves natural gas and electric utilities, providing services across the infrastructure life cycle, from initial engineering and installation to repair, replacement and ongoing maintenance.

Its capabilities include gas distribution construction, electric transmission and distribution work, pipeline integrity services, underground utility installation, emergency response and related engineering and field services.