Centuri (NYSE:CTRI) Price Target Raised to $21.00

Centuri (NYSE:CTRI - Get Free Report) had its price target boosted by equities researchers at Robert W. Baird from $19.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential downside of 0.62% from the stock's previous close.

CTRI has been the topic of a number of other reports. JPMorgan Chase & Co. cut Centuri from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $19.00 to $16.00 in a research note on Monday, October 7th. Wells Fargo & Company dropped their target price on Centuri from $29.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, July 30th. UBS Group cut shares of Centuri from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $30.00 to $17.00 in a research report on Tuesday, July 30th. Finally, Bank of America lowered their price objective on shares of Centuri from $21.00 to $15.00 and set an "underperform" rating for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Centuri currently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Centuri Stock Up 11.1 %

CTRI stock traded up $2.11 during midday trading on Thursday, hitting $21.13. 941,105 shares of the company's stock were exchanged, compared to its average volume of 513,540. Centuri has a 1-year low of $14.47 and a 1-year high of $28.65. The business has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $20.31. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 2.05.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.24). The company had revenue of $692.82 million for the quarter, compared to analysts' expectations of $719.87 million. On average, analysts expect that Centuri will post 0.43 earnings per share for the current year.

Institutional Trading of Centuri

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

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