Centuri (NYSE:CTRI) Shares Gap Down - Should You Sell?

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $15.93, but opened at $15.51. Centuri shares last traded at $15.59, with a volume of 34,328 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Centuri from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $19.00 to $16.00 in a research note on Monday. Bank of America decreased their target price on shares of Centuri from $21.00 to $15.00 and set an "underperform" rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company dropped their price target on shares of Centuri from $29.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 30th. UBS Group cut shares of Centuri from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $30.00 to $17.00 in a research report on Tuesday, July 30th. Finally, KeyCorp assumed coverage on shares of Centuri in a report on Thursday, June 27th. They issued a "sector weight" rating on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Centuri currently has an average rating of "Moderate Buy" and an average target price of $20.00.

Centuri Stock Down 1.3 %

The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a fifty day simple moving average of $16.26.

Centuri (NYSE:CTRI - Get Free Report) last issued its earnings results on Monday, July 29th. The company reported $0.20 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 was down 16.6% on a year-over-year basis. Equities analysts predict that Centuri Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Insider Transactions at Centuri

In other Centuri news, Director William Fehrman purchased 20,000 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $16.50 per share, for a total transaction of $330,000.00. Following the purchase, the director now owns 45,000 shares of the company's stock, valued at $742,500. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Centuri

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Centuri during the second quarter worth about $2,757,000. Rhumbline Advisers purchased a new position in shares of Centuri in the 2nd quarter worth approximately $300,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Centuri during the second quarter valued at approximately $33,619,000. Gabelli Funds LLC bought a new stake in shares of Centuri during the 2nd quarter worth $880,000. Finally, Davidson Kempner Capital Management LP bought a new stake in Centuri in the second quarter worth about $1,500,000.

Centuri Company Profile

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.