Cosan (NYSE:CSAN) Raised to Buy at Wall Street Zen

Cosan (NYSE:CSAN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the stock. Citigroup upgraded shares of Cosan to a “hold” rating in a report on Monday, June 29th. Jefferies Financial Group cut shares of Cosan to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Zacks Research upgraded shares of Cosan to a “hold” rating in a research note on Thursday, June 18th. Finally, HSBC cut shares of Cosan from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $5.00 to $3.20 in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cosan currently has a consensus rating of “Reduce” and a consensus price target of $3.85.

Cosan Stock Performance

Shares of Cosan stock opened at $2.90 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of -1.34 and a beta of 0.71. The stock has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $3.52. Cosan has a 12-month low of $2.38 and a 12-month high of $6.01. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12.

Cosan (NYSE:CSAN) last issued its quarterly earnings data on Saturday, August 15th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $996.01 million. Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. On average, sell-side analysts anticipate that Cosan will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cosan

Several institutional investors have recently added to or reduced their stakes in CSAN. UBS Group AG raised its position in Cosan by 36.9% in the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock worth $13,797,000 after acquiring an additional 941,548 shares during the period. Tejara Capital Ltd purchased a new position in Cosan in the fourth quarter valued at about $1,386,000. Monaco Asset Management SAM grew its position in shares of Cosan by 200.5% during the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock valued at $11,869,000 after acquiring an additional 2,004,813 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Cosan during the 4th quarter valued at approximately $53,000. Finally, Barometer Capital Management Inc. increased its stake in shares of Cosan by 1,839.0% during the 1st quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock worth $707,000 after purchasing an additional 162,750 shares during the last quarter.

About Cosan

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.