Centuri (NYSE:CTRI) Hits New 12-Month Low – Here’s What Happened

Shares of Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.03 and last traded at $19.0450, with a volume of 1319487 shares trading hands. The stock had previously closed at $19.57.

Wall Street Analysts Forecast Growth

CTRI has been the topic of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of Centuri from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Wells Fargo & Company cut their target price on shares of Centuri from $37.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Bank of America reduced their target price on Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a report on Friday, September 4th. Robert W. Baird set a $33.00 price target on Centuri in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Centuri presently has a consensus rating of “Hold” and a consensus price target of $30.67.

Centuri Trading Up 0.2%

The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.94 billion, a P/E ratio of 62.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.01. The business’s fifty day simple moving average is $23.45 and its 200 day simple moving average is $28.42.

Centuri (NYSE:CTRI) last announced its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Centuri had a net margin of 0.86% and a return on equity of 5.85%. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. During the same period in the prior year, the business earned $0.19 earnings per share. Centuri’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, analysts expect that Centuri Holdings, Inc. will post 0.62 EPS for the current year.

Institutional Investors Weigh In On Centuri

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Verbena Value LP boosted its holdings in Centuri by 31.3% in the first quarter. Verbena Value LP now owns 1,771,457 shares of the company’s stock valued at $51,744,000 after acquiring an additional 422,593 shares during the last quarter. Renaissance Technologies LLC lifted its position in Centuri by 11.5% during the 1st quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock valued at $27,291,000 after purchasing an additional 96,600 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Centuri by 46.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock valued at $25,998,000 after purchasing an additional 281,264 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Centuri in the 4th quarter valued at about $20,233,000. Finally, Needham Investment Management LLC grew its position in shares of Centuri by 29.7% during the 4th quarter. Needham Investment Management LLC now owns 797,628 shares of the company’s stock worth $20,140,000 after buying an additional 182,500 shares during the period.

Centuri Company Profile

Centuri Group, Inc is a North American utility infrastructure services company that supports the construction, maintenance and modernization of energy networks. The company primarily serves natural gas and electric utilities, providing services across the infrastructure life cycle, from initial engineering and installation to repair, replacement and ongoing maintenance.

Its capabilities include gas distribution construction, electric transmission and distribution work, pipeline integrity services, underground utility installation, emergency response and related engineering and field services.