Wells Fargo & Company Issues Pessimistic Forecast for Centuri (NYSE:CTRI) Stock Price

Centuri (NYSE:CTRI) had its price objective dropped by equities researchers at Wells Fargo & Company from $34.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.97% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Cantor Fitzgerald boosted their target price 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. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.85.

Centuri Price Performance

Centuri stock opened at $29.92 on Wednesday. The firm has a market cap of $3.02 billion, a PE ratio of 130.07, a price-to-earnings-growth ratio of 1.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. The stock’s fifty day moving average price is $29.81 and its two-hundred day moving average price is $25.41. Centuri has a one year low of $14.45 and a one year high of $32.38.

Centuri (NYSE:CTRI) last released its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $858.60 million for the quarter, compared to the consensus estimate of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.09%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, research analysts expect that Centuri will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Centuri

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its stake in Centuri by 13,385.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after buying an additional 1,874 shares in the last quarter. Amalgamated Bank raised its stake in Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after acquiring an additional 1,691 shares in the last quarter. CWM LLC raised its stake in Centuri by 59.7% during the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after acquiring an additional 1,512 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Centuri in the third quarter worth about $119,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after acquiring an additional 3,037 shares during the last quarter.

About Centuri

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.