Cosan (NYSE:CZZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “For 2018, Cosan affirmed its pro-forma net revenues at R$50-R$53 billion. At Raízen Combustíveis, Cosan narrowed the EBITDA projections for 2018 to R$2.75-R$2.95 billion. The guidance reflects reduction in the Otto cycle fuel demand, as well as impact of the truckers’ strike. Further, Cosan’s results will be hurt by adverse impacts of rising costs of sales and services, unfavorable weather conditions and increase in debt.”

A number of other research firms have also issued reports on CZZ. JPMorgan Chase & Co. upgraded shares of Cosan from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $12.50 to $13.00 in a report on Tuesday, February 19th. Morgan Stanley upgraded shares of Cosan from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research note on Wednesday, January 16th. Finally, Santander lowered Cosan from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.92.

NYSE CZZ opened at $12.53 on Monday. The company has a quick ratio of 1.80, a current ratio of 1.92 and a debt-to-equity ratio of 1.34. Cosan has a one year low of $6.20 and a one year high of $13.18. The company has a market capitalization of $3.09 billion, a PE ratio of 19.58 and a beta of 1.52.

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Cosan by 13.5% during the fourth quarter. Bank of New York Mellon Corp now owns 12,897 shares of the basic materials company’s stock worth $113,000 after buying an additional 1,535 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Cosan by 1.0% in the 4th quarter. Two Sigma Advisers LP now owns 458,400 shares of the basic materials company’s stock valued at $4,034,000 after acquiring an additional 4,575 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Cosan by 2.5% in the 4th quarter. Commonwealth Bank of Australia now owns 244,278 shares of the basic materials company’s stock valued at $2,145,000 after acquiring an additional 6,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Cosan by 5.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 154,750 shares of the basic materials company’s stock worth $1,079,000 after acquiring an additional 7,405 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Cosan by 7.8% during the 3rd quarter. Legal & General Group Plc now owns 113,546 shares of the basic materials company’s stock worth $765,000 after acquiring an additional 8,167 shares in the last quarter. 26.97% of the stock is currently owned by institutional investors.

About Cosan

Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's RaĆ­zen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.

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