Centuri (NYSE:CTRI) Reaches New 52-Week High – Still a Buy?

Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week high on Thursday . The stock traded as high as $34.25 and last traded at $33.8370, with a volume of 16016 shares changing hands. The stock had previously closed at $33.45.

Analysts Set New Price Targets

CTRI has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Centuri from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Cantor Fitzgerald boosted their target price on Centuri from $35.25 to $37.40 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.85.

Centuri Stock Up 2.5%

The firm has a fifty day moving average of $30.90 and a 200-day moving average of $26.53. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.82. The firm has a market cap of $3.46 billion, a P/E ratio of 149.02, a price-to-earnings-growth ratio of 1.37 and a beta of 0.73.

Centuri (NYSE:CTRI) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share 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 the consensus estimate of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.09%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, equities research analysts anticipate that Centuri Holdings, Inc. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in shares of Centuri during the 3rd quarter worth approximately $4,992,000. JPMorgan Chase & Co. lifted its holdings in Centuri by 942.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 153,022 shares of the company’s stock valued at $3,239,000 after purchasing an additional 138,349 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in Centuri by 68.5% during the third quarter. Hudson Bay Capital Management LP now owns 126,385 shares of the company’s stock worth $2,676,000 after purchasing an additional 51,385 shares during the period. Citigroup Inc. increased its holdings in shares of Centuri by 492.0% in the third quarter. Citigroup Inc. now owns 92,634 shares of the company’s stock valued at $1,961,000 after purchasing an additional 76,987 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Centuri by 3,300.4% in the third quarter. New York State Common Retirement Fund now owns 187,023 shares of the company’s stock valued at $3,959,000 after purchasing an additional 181,523 shares during 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.