Cantor Fitzgerald Cuts Centuri (NYSE:CTRI) Price Target to $35.00

Centuri (NYSE:CTRI) had its target price trimmed by Cantor Fitzgerald from $46.00 to $35.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also issued reports on CTRI. JPMorgan Chase & Co. raised their price target on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research report on Friday, May 8th. UBS Group upped their price objective on shares of Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Wednesday, June 24th. Robert W. Baird set a $41.00 price target on shares of Centuri in a report on Friday, May 8th. Finally, 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 report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.40.

Centuri Price Performance

Shares of CTRI opened at $23.86 on Wednesday. The company has a 50 day moving average of $28.15 and a two-hundred day moving average of $30.03. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 0.74 and a beta of 1.10. The company has a quick ratio of 1.88, a current ratio of 1.82 and a debt-to-equity ratio of 0.81. Centuri has a twelve month low of $19.04 and a twelve month high of $42.99.

Centuri (NYSE:CTRI) last announced its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. Centuri had a return on equity of 5.85% and a net margin of 0.86%.The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. As a group, analysts predict that Centuri will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centuri

Several large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 acquiring an additional 1,874 shares in the last quarter. KBC Group NV purchased a new stake in Centuri during the first quarter worth $67,000. CWM LLC raised its stake in shares of Centuri by 59.7% during the 4th quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after buying an additional 1,512 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Centuri by 121.7% during the 2nd 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 last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Centuri during the 1st quarter valued at about $183,000.

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.