Wells Fargo & Company Forecasts Strong Price Appreciation for Centuri (NYSE:CTRI) Stock

Centuri (NYSE:CTRI) had its target price hoisted by equities research analysts at Wells Fargo & Company from $30.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 10.56% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price objective on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Cantor Fitzgerald began coverage on shares of Centuri in a research report on Friday, January 23rd. They set an “overweight” rating and a $34.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.20.

Centuri Stock Performance

Shares of NYSE CTRI traded up $0.08 during mid-day trading on Thursday, hitting $30.75. 1,179,457 shares of the company were exchanged, compared to its average volume of 1,344,610. The stock has a 50 day simple moving average of $28.06 and a 200-day simple moving average of $23.82. Centuri has a 1-year low of $14.45 and a 1-year high of $32.38. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 1,026.31, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81.

Centuri (NYSE:CTRI) last released its earnings results on Wednesday, February 25th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $858.60 million during the quarter, compared to analyst estimates of $740.62 million. Centuri had a return on equity of 6.37% and a net margin of 0.09%.The firm’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, sell-side analysts forecast that Centuri will post 0.25 EPS for the current fiscal year.

Insider Activity at Centuri

In related news, CEO Christian Brown sold 7,108 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the transaction, the chief executive officer directly owned 22,089 shares in the company, valued at approximately $541,401.39. This represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Centuri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings 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 during the period. Amalgamated Bank increased its position in Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after purchasing an additional 1,691 shares during the last quarter. CWM LLC raised its stake in Centuri by 238.1% during the second quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after purchasing an additional 1,893 shares during the period. Tower Research Capital LLC TRC raised its stake in Centuri by 121.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after purchasing an additional 3,037 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Centuri in the 3rd quarter valued at $119,000.

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.