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

Centuri Holdings, Inc. (NYSE:CTRI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $27.86, but opened at $25.05. Centuri shares last traded at $25.8440, with a volume of 252,157 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on CTRI shares. Robert W. Baird set a $33.00 price target on Centuri in a research note on Wednesday. UBS Group boosted their price objective on Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Centuri from $26.00 to $29.00 and gave the company an “underweight” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Centuri from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.40.

Centuri Stock Up 1.8%

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 $2.25 billion, a price-to-earnings ratio of 71.84, a price-to-earnings-growth ratio of 0.72 and a beta of 1.10. The firm has a 50 day moving average price of $28.46 and a 200-day moving average price of $30.11.

Centuri (NYSE:CTRI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $959.53 million during the quarter, compared to analyst estimates of $835.99 million. Centuri had a return on equity of 6.03% and a net margin of 0.86%.The company’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. As a group, equities analysts predict that Centuri Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Centuri

A number of institutional investors and hedge funds have recently modified their holdings of CTRI. Wellington Management Group LLP acquired a new position in shares of Centuri in the 3rd quarter valued at $78,222,000. Icahn Carl C grew its stake in shares of Centuri by 32.2% during the fourth quarter. Icahn Carl C now owns 14,336,044 shares of the company’s stock worth $361,985,000 after purchasing an additional 3,488,372 shares during the period. Samlyn Capital LLC acquired a new stake in shares of Centuri during the third quarter worth $36,838,000. Maverick Capital Ltd. bought a new stake in Centuri in the fourth quarter valued at about $42,240,000. Finally, Balyasny Asset Management L.P. acquired a new position in Centuri in the second quarter valued at about $36,165,000.

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.