Wells Fargo & Company Cuts Centuri (NYSE:CTRI) Price Target to $32.00

Centuri (NYSE:CTRI) had its target price reduced by Wells Fargo & Company from $34.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.59% from the company’s previous close.

A number of other brokerages also recently weighed in on CTRI. Cantor Fitzgerald increased their price objective on shares of Centuri from $35.25 to $37.40 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.85.

Centuri Stock Up 3.7%

Shares of NYSE CTRI traded up $1.10 on Wednesday, reaching $30.31. 235,226 shares of the company’s stock traded hands, compared to its average volume of 1,397,115. The business’s 50 day simple moving average is $29.73 and its two-hundred day simple moving average is $25.35. Centuri has a 12 month low of $14.45 and a 12 month high of $32.38. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 131.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.63. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.82.

Centuri (NYSE:CTRI) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.09%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that Centuri will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Centuri

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Centuri by 126.0% in the third quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock valued at $170,625,000 after acquiring an additional 4,493,955 shares during the period. Icahn Carl C grew its holdings 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 purchased a new stake in Centuri in the 3rd quarter worth about $78,222,000. Cooper Creek Partners Management LLC purchased a new stake in Centuri in the 2nd quarter worth about $49,416,000. Finally, Samlyn Capital LLC bought a new stake in Centuri in the third quarter worth about $36,838,000.

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.