Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Update

Centuri Holdings, Inc. (NYSE:CTRI) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, an increase of 5.4% from the August 15th total of 2,780,000 shares. Currently, 17.6% of the shares of the stock are sold short. Based on an average trading volume of 602,600 shares, the short-interest ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America cut their target price on shares of Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 30th. KeyCorp initiated coverage on shares of Centuri in a report on Thursday, June 27th. They set a “sector weight” rating for the company. JPMorgan Chase & Co. cut their price target on Centuri from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company decreased their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, UBS Group lowered Centuri from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $17.00 in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.60.

Centuri Stock Down 2.5 %

Shares of Centuri stock opened at $17.43 on Tuesday. Centuri has a 12 month low of $14.47 and a 12 month high of $28.65. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05. The business’s fifty day simple moving average is $17.37.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million for the quarter, compared to analyst estimates of $760.55 million. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. As a group, research analysts anticipate that Centuri will post 0.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William Fehrman purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $16.50 per share, with a total value of $330,000.00. Following the completion of the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers bought a new stake in Centuri in the 2nd quarter valued at $300,000. Sandia Investment Management LP acquired a new position in shares of Centuri during the second quarter worth about $466,000. Point72 DIFC Ltd bought a new position in shares of Centuri during the second quarter worth about $657,000. Gabelli Funds LLC acquired a new stake in Centuri in the 2nd quarter valued at approximately $880,000. Finally, Squarepoint Ops LLC bought a new stake in Centuri in the 2nd quarter valued at approximately $1,393,000.

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.