Centuri (NYSE:CTRI) Shares Gap Down – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $27.86, but opened at $25.05. Centuri shares last traded at $25.8440, with a volume of 252,157 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CTRI shares. Wells Fargo & Company upped their price target on shares of Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group boosted their price objective on shares of Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Robert W. Baird set a $41.00 target price on Centuri in a report on Friday, May 8th. Cantor Fitzgerald upped their price target on Centuri from $37.40 to $46.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.80.

Centuri Price Performance

The stock has a market capitalization of $2.30 billion, a P/E ratio of 67.39, a PEG ratio of 0.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a fifty day moving average price of $28.83 and a two-hundred day moving average price of $30.18.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $959.53 million during the quarter, compared to analysts’ expectations of $835.99 million. Centuri had a return on equity of 5.64% and a net margin of 0.98%.Centuri’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, analysts expect that Centuri Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Centuri

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its holdings in Centuri by 13,385.7% during 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 during the last quarter. KBC Group NV purchased a new position in Centuri during the first quarter valued at $67,000. CWM LLC increased its position in Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after buying an additional 1,512 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 buying an additional 3,037 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Centuri during the 1st quarter valued at approximately $183,000.

Centuri Company Profile

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.