Centuri (NYSE:CTRI) Price Target Raised to $22.00

Centuri (NYSE:CTRI) had its target price raised by equities researchers at Wells Fargo & Company from $18.00 to $22.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.18% from the company’s previous close.

Several other brokerages have also weighed in on CTRI. JPMorgan Chase & Co. upped their price objective on Centuri from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Robert W. Baird cut their price objective on Centuri from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Centuri presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Centuri Trading Up 2.9%

Shares of CTRI stock opened at $20.72 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64. Centuri has a 1 year low of $14.46 and a 1 year high of $28.65. The stock has a fifty day moving average of $17.46 and a two-hundred day moving average of $19.31. The firm has a market capitalization of $1.83 billion and a PE ratio of 1,036.00.

Centuri (NYSE:CTRI) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Centuri had a negative return on equity of 55.33% and a negative net margin of 8.90%. The company had revenue of $550.08 million during the quarter, compared to analyst estimates of $534.41 million. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Centuri will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Centuri

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Centuri during the fourth quarter worth $26,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Centuri during the fourth quarter worth $62,000. Corebridge Financial Inc. raised its position in shares of Centuri by 15.7% during the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company’s stock worth $163,000 after purchasing an additional 1,146 shares during the period. Deutsche Bank AG raised its position in shares of Centuri by 31.4% during the fourth quarter. Deutsche Bank AG now owns 8,659 shares of the company’s stock worth $167,000 after purchasing an additional 2,068 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Centuri by 27.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company’s stock worth $186,000 after purchasing an additional 2,054 shares during the period.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.