Cosan (CZZ) Rating Increased to Strong-Buy at Zacks Investment Research

Cosan (NYSE:CZZ) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The firm presently has a $12.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.21% from the stock’s current price.

According to Zacks, “In the last three months, Cosan's American Depository Receipts (ADR) has outperformed the industry. We believe that Cosan constantly strives to improve its production capabilities and services to capitalize on the growing sugar and ethanol demand. Its strategy of expanding its network of service stations and acquiring meaningful businesses aided growth over time. Exiting third-quarter 2017, the company had 6,138 Shell branded service stations. For the crop year April 2017-March 2018, the company anticipates volume of sugarcane crushed to be within 59-63 million. Sugar volume produced is likely to come in a range of 4.3-4.7 million tons.”

A number of other equities analysts have also weighed in on CZZ. Morgan Stanley lowered shares of Cosan from an “overweight” rating to an “equal weight” rating in a report on Friday, October 6th. Credit Suisse Group upgraded shares of Cosan from a “neutral” rating to an “outperform” rating in a report on Monday, October 9th. Finally, ValuEngine lowered shares of Cosan from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cosan presently has a consensus rating of “Buy” and an average price target of $12.00.

Cosan (NYSE:CZZ) traded up $0.05 during mid-day trading on Thursday, hitting $10.60. 725,953 shares of the stock traded hands, compared to its average volume of 805,736. Cosan has a 1 year low of $5.63 and a 1 year high of $10.71. The company has a quick ratio of 1.35, a current ratio of 1.44 and a debt-to-equity ratio of 1.34.

Cosan (NYSE:CZZ) last announced its quarterly earnings data on Monday, November 13th. The basic materials company reported $0.28 earnings per share for the quarter. Cosan had a net margin of 1.65% and a return on equity of 0.72%. sell-side analysts predict that Cosan will post 1.06 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Fund Management S.A. purchased a new position in Cosan in the 2nd quarter worth approximately $133,000. Nine Chapters Capital Management LLC purchased a new position in Cosan in the 3rd quarter worth approximately $152,000. Pinebridge Investments L.P. purchased a new position in Cosan in the 2nd quarter worth approximately $157,000. Dynamic Technology Lab Private Ltd purchased a new position in Cosan in the 3rd quarter worth approximately $176,000. Finally, PEAK6 Investments L.P. raised its holdings in Cosan by 101.8% in the 3rd quarter. PEAK6 Investments L.P. now owns 43,145 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 21,770 shares during the last quarter. Institutional investors own 26.70% of the company’s stock.

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Cosan Company Profile

Cosan Limited (Cosan) is a holding company. The Company’s segments include Raizen Energia, Raizen Combustiveis, COMGAS, Cosan Logistica, Lubricants and Other business. The Company’s other business include other investments, in addition to the corporate activities. The Company offers Logistics services, including transportation, port loading and storage of sugar, leasing or lending of locomotives, wagons and other railway equipment, through its subsidiaries Rumo Logistica Operadora Multimodal SA (Rumo), logistic segment (Logistic).

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