Cantor Fitzgerald Raises Centuri (NYSE:CTRI) Price Target to $35.25

Centuri (NYSE:CTRI) had its price target boosted by research analysts at Cantor Fitzgerald from $34.00 to $35.25 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 13.99% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. UBS Group lifted their price target on shares of Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Wells Fargo & Company lifted their target price on Centuri from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.81.

Centuri Trading Down 1.6%

Shares of CTRI stock opened at $30.93 on Friday. The stock has a market cap of $3.08 billion, a P/E ratio of 134.46, a P/E/G ratio of 1.17 and a beta of 0.81. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. Centuri has a fifty-two week low of $14.45 and a fifty-two week high of $32.38. The business has a fifty day simple moving average of $28.26 and a 200-day simple moving average of $23.97.

Centuri (NYSE:CTRI) last posted its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $858.60 million during the quarter, compared to analysts’ expectations of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.80%. Centuri’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. On average, analysts forecast that Centuri will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Centuri

In other news, CEO Christian Brown sold 7,108 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.51, for a total transaction of $174,217.08. Following the transaction, the chief executive officer owned 22,089 shares of the company’s stock, valued at approximately $541,401.39. This trade represents a 24.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Centuri by 59.1% during the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock worth $11,847,000 after purchasing an additional 195,992 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Centuri in the second quarter valued at $964,000. New York State Common Retirement Fund increased its holdings in Centuri by 3,300.4% during the third quarter. New York State Common Retirement Fund now owns 187,023 shares of the company’s stock worth $3,959,000 after buying an additional 181,523 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Centuri during the third quarter worth $1,611,000. Finally, Carronade Capital Management LP raised its position in Centuri by 1,394.5% during the second quarter. Carronade Capital Management LP now owns 1,353,425 shares of the company’s stock worth $30,371,000 after acquiring an additional 1,262,867 shares in the last quarter.

Centuri Company Profile

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.