Cosan S.A. Sponsored ADR (NYSE:CSAN) Given Average Rating of “Reduce” by Brokerages

Cosan S.A. Sponsored ADR (NYSE:CSAN) has been assigned a consensus recommendation of “Reduce” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.85.

Several brokerages have recently weighed in on CSAN. Weiss Ratings restated a “sell (e+)” rating on shares of Cosan in a report on Tuesday, June 9th. HSBC cut Cosan from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $5.00 to $3.20 in a report on Tuesday, May 26th. Zacks Research upgraded Cosan to a “hold” rating in a report on Thursday, June 18th. Finally, Jefferies Financial Group cut Cosan to a “hold” rating in a report on Tuesday, May 26th.

Insider Buying and Selling

In other Cosan news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of Cosan stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the acquisition, the chief executive officer owned 4,890,286 shares of the company’s stock, valued at approximately $25,136,070.04. This trade represents a 99.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $3.44, for a total value of $267,081.60. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 187,040 shares of company stock worth $869,816.

Hedge Funds Weigh In On Cosan

A number of hedge funds and other institutional investors have recently bought and sold shares of CSAN. Royal Bank of Canada grew its holdings in Cosan by 113,135.4% during the first quarter. Royal Bank of Canada now owns 198,162 shares of the company’s stock worth $1,034,000 after purchasing an additional 197,987 shares during the period. Goldman Sachs Group Inc. grew its holdings in Cosan by 79.4% during the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock worth $257,000 after purchasing an additional 21,818 shares during the period. Jane Street Group LLC grew its holdings in Cosan by 11.1% during the first quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock worth $481,000 after purchasing an additional 9,181 shares during the period. JPMorgan Chase & Co. grew its holdings in Cosan by 4,668.1% during the second quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock worth $236,000 after purchasing an additional 45,841 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Cosan during the second quarter worth about $109,000.

Cosan Price Performance

Shares of NYSE CSAN opened at $2.92 on Friday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -1.19 and a beta of 0.74. The business has a 50-day moving average of $3.39 and a 200-day moving average of $4.00. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76. Cosan has a fifty-two week low of $2.52 and a fifty-two week high of $6.01.

Cosan (NYSE:CSAN) last announced its quarterly earnings data on Saturday, February 14th. The company reported ($1.61) earnings per share for the quarter. The company had revenue of $1.74 billion during the quarter. Cosan had a negative net margin of 24.09% and a negative return on equity of 14.30%. As a group, sell-side analysts predict that Cosan will post -0.27 earnings per share for the current fiscal year.

About Cosan

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.