Centuri (NYSE:CTRI) Price Target Raised to $34.00

Centuri (NYSE:CTRI) had its price target upped by Wells Fargo & Company from $30.00 to $34.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CTRI has been the subject of several other research reports. UBS Group raised their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. Cantor Fitzgerald began coverage on shares of Centuri in a research note on Friday, January 23rd. They issued an “overweight” rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.81.

Centuri Price Performance

Shares of NYSE CTRI opened at $30.93 on Thursday. The company has a market capitalization of $3.08 billion, a PE ratio of 134.46, a P/E/G ratio of 1.17 and a beta of 0.81. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. Centuri has a twelve month low of $14.45 and a twelve month high of $32.38. The firm has a fifty day simple moving average of $28.26 and a 200 day simple moving average of $23.97.

Centuri (NYSE:CTRI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Centuri had a net margin of 0.76% and a return on equity of 5.80%. The firm had revenue of $858.60 million for the quarter, compared to the consensus estimate of $740.62 million. During the same period last year, the company posted $0.21 EPS. The business’s revenue was up 19.7% compared to the same quarter last year. On average, sell-side analysts forecast that Centuri will post 0.25 EPS for the current year.

Insider Buying and Selling at Centuri

In other news, CEO Christian Brown sold 7,108 shares of Centuri stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.51, for a total transaction of $174,217.08. Following the completion of the transaction, the chief executive officer directly owned 22,089 shares in the company, valued at $541,401.39. This trade represents a 24.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Centuri

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after purchasing an additional 1,874 shares in the last quarter. Amalgamated Bank boosted its position in shares of Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock valued at $48,000 after buying an additional 1,691 shares during the last quarter. CWM LLC grew its holdings in Centuri by 238.1% during the second quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after buying an additional 1,893 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Centuri in the 3rd quarter valued at $119,000. Finally, Tower Research Capital LLC TRC raised its position in Centuri by 121.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock valued at $124,000 after buying 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.