Analysts Set Centuri Holdings, Inc. (NYSE:CTRI) Price Target at $20.00

Centuri Holdings, Inc. (NYSE:CTRI) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.00.

A number of brokerages have recently issued reports on CTRI. UBS Group cut shares of Centuri from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $17.00 in a report on Tuesday, July 30th. KeyCorp started coverage on Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Bank of America lowered their target price on shares of Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. downgraded Centuri from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $19.00 to $16.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company lowered their price target on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th.

Centuri Stock Performance

NYSE CTRI opened at $18.06 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. Centuri has a 52 week low of $14.47 and a 52 week high of $28.65. The company has a 50 day moving average price of $16.33.

Centuri (NYSE:CTRI) last released its earnings results on Monday, July 29th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $672.08 million during the quarter, compared to analyst estimates of $760.55 million. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Analysts anticipate that Centuri will post 0.43 earnings per share for the current year.

Insider Transactions at Centuri

In other news, Director William Fehrman purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $16.50 per share, with a total value of $330,000.00. Following the completion of the acquisition, the director now owns 45,000 shares in the company, valued at $742,500. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Trading of Centuri

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Centuri in the second quarter worth approximately $33,619,000. Clearbridge Investments LLC bought a new stake in shares of Centuri in the 2nd quarter valued at $5,587,000. Point72 Asset Management L.P. bought a new position in Centuri during the second quarter valued at $4,339,000. Ghisallo Capital Management LLC purchased a new stake in shares of Centuri during the second quarter worth about $3,409,000. Finally, Maverick Capital Ltd. bought a new stake in shares of Centuri in the 2nd quarter worth approximately $2,922,000.

About Centuri

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.