Cosan (NYSE:CSAN) Upgraded to Hold at Citigroup

Cosan (NYSE:CSAN) was upgraded by analysts at Citigroup to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on CSAN. HSBC lowered Cosan from a “hold” rating to a “reduce” rating and decreased their price objective for the stock from $5.00 to $3.20 in a report on Tuesday, May 26th. Jefferies Financial Group lowered Cosan to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Cosan to a “hold” rating in a research note on Thursday, June 18th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.85.

Cosan Trading Up 0.9%

Shares of CSAN opened at $2.88 on Monday. The stock’s 50-day moving average price is $3.34 and its 200 day moving average price is $3.97. The company has a quick ratio of 1.76, a current ratio of 1.87 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -1.17 and a beta of 0.74. Cosan has a 12-month low of $2.52 and a 12-month high of $6.01.

Insider Buying and Selling at Cosan

In other news, Director Rubens Ometto Silveira Mello sold 77,640 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.44, for a total value of $267,081.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maria Rita De Carvalh Drummond sold 37,400 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.48, for a total transaction of $204,952.00. Following the sale, the insider owned 2,128,536 shares of the company’s stock, valued at $11,664,377.28. This trade represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 187,040 shares of company stock worth $869,816 over the last three months.

Institutional Trading of Cosan

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Cosan by 3,266.6% in the first quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock valued at $51,000 after acquiring an additional 12,021 shares during the last quarter. Barometer Capital Management Inc. increased its holdings in Cosan by 1,839.0% during the 1st quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company’s stock valued at $707,000 after purchasing an additional 162,750 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Cosan by 115.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock valued at $728,000 after purchasing an additional 94,605 shares during the last quarter. SmartHarvest Portfolios LLC acquired a new position in Cosan in the first quarter worth $46,000. Finally, Blue Trust Inc. grew its holdings in shares of Cosan by 12,141.9% during the first quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock worth $53,000 after purchasing an additional 12,749 shares during the last quarter.

Cosan Company Profile

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.