Centuri (NYSE:CTRI) Price Target Raised to $35.25

Centuri (NYSE:CTRI) had its price target increased by Cantor Fitzgerald from $34.00 to $35.25 in a research note released on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

CTRI has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price objective on Centuri from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Finally, UBS Group increased their target price on Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.81.

Centuri Price Performance

Shares of CTRI stock opened at $30.93 on Friday. The business has a fifty day simple moving average of $28.26 and a 200 day simple moving average of $24.00. The company has a market cap of $3.12 billion, a P/E ratio of 134.46, a P/E/G ratio of 1.10 and a beta of 0.62. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.82. Centuri has a twelve month low of $14.45 and a twelve month high of $32.38.

Centuri (NYSE:CTRI) last released its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $858.60 million during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that Centuri will post 0.25 EPS for the current fiscal year.

Insider Activity at Centuri

In related news, CEO Christian Brown sold 7,108 shares of Centuri stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the transaction, the chief executive officer directly owned 22,089 shares of the company’s stock, valued at $541,401.39. The trade was a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTRI. Goldman Sachs Group Inc. boosted its stake in shares of Centuri by 164.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company’s stock valued at $2,517,000 after purchasing an additional 95,585 shares during the last quarter. CWM LLC grew its holdings in Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after acquiring an additional 1,893 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Centuri in the 2nd quarter worth about $431,000. Geode Capital Management LLC lifted its stake in shares of Centuri by 59.1% in the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock valued at $11,847,000 after purchasing an additional 195,992 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Centuri by 163.0% in the 2nd quarter. Swiss National Bank now owns 67,600 shares of the company’s stock valued at $1,517,000 after purchasing an additional 41,900 shares during the period.

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.