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

Shares of Centuri Holdings, Inc. (NYSE:CTRI) gapped down before the market opened on Thursday . The stock had previously closed at $41.80, but opened at $37.52. Centuri shares last traded at $35.3840, with a volume of 673,416 shares trading hands.

Analyst Upgrades and Downgrades

CTRI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Cantor Fitzgerald increased their price target on Centuri from $35.25 to $37.40 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company cut their price objective on Centuri from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.85.

Centuri Stock Down 19.8%

The company’s 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $27.51. The firm has a market capitalization of $3.38 billion, a P/E ratio of 145.77, a P/E/G ratio of 1.73 and a beta of 1.34. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The firm had revenue of $688.69 million during the quarter, compared to analyst estimates of $618.87 million. During the same period in the prior year, the business posted ($0.12) EPS. Centuri’s revenue was up 31.5% on a year-over-year basis. As a group, research analysts expect that Centuri Holdings, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Centuri by 164.9% during the first quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company’s stock valued at $2,517,000 after acquiring an additional 95,585 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Centuri by 6.5% in the second quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company’s stock worth $329,000 after acquiring an additional 890 shares during the period. Legal & General Group Plc grew its position in shares of Centuri by 126.8% during the second quarter. Legal & General Group Plc now owns 29,723 shares of the company’s stock worth $667,000 after purchasing an additional 16,618 shares in the last quarter. Rhumbline Advisers grew its position in shares of Centuri by 10.1% during the second quarter. Rhumbline Advisers now owns 24,188 shares of the company’s stock worth $543,000 after purchasing an additional 2,228 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Centuri by 51.4% during the 2nd quarter. American Century Companies Inc. now owns 47,447 shares of the company’s stock valued at $1,065,000 after purchasing an additional 16,115 shares during the period.

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.