Centuri (NYSE:CTRI) Price Target Raised to $46.00

Centuri (NYSE:CTRI) had its price objective raised by Cantor Fitzgerald from $37.40 to $46.00 in a report published on Monday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other analysts have also commented on the stock. Wells Fargo & Company lifted their target price on shares of Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a report on Friday, May 8th. Robert W. Baird set a $41.00 target price on shares of Centuri in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Centuri from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $37.80.

Centuri Stock Performance

Shares of Centuri stock opened at $32.09 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $3.24 billion, a P/E ratio of 94.37, a P/E/G ratio of 1.08 and a beta of 1.34. The firm has a 50 day simple moving average of $32.04 and a 200 day simple moving average of $27.96. Centuri has a fifty-two week low of $17.97 and a fifty-two week high of $42.99.

Centuri (NYSE:CTRI) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $688.69 million during the quarter, compared to analyst estimates of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. Centuri’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. Sell-side analysts predict that Centuri will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centuri

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in shares of Centuri during the 3rd quarter worth about $4,992,000. JPMorgan Chase & Co. increased its stake in shares of Centuri by 942.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 153,022 shares of the company’s stock worth $3,239,000 after purchasing an additional 138,349 shares during the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Centuri by 68.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 126,385 shares of the company’s stock worth $2,676,000 after purchasing an additional 51,385 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Centuri by 3,300.4% during the 3rd quarter. New York State Common Retirement Fund now owns 187,023 shares of the company’s stock worth $3,959,000 after purchasing an additional 181,523 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Centuri by 492.0% during the 3rd quarter. Citigroup Inc. now owns 92,634 shares of the company’s stock worth $1,961,000 after purchasing an additional 76,987 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.