Centuri (NYSE:CTRI) Trading 4.7% Higher – Time to Buy?

Shares of Centuri Holdings, Inc. (NYSE:CTRI) traded up 4.7% on Wednesday . The stock traded as high as $16.81 and last traded at $16.81. 91,595 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 511,021 shares. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America lowered their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research report on Tuesday, July 30th. UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $17.00 in a research report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded Centuri from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $19.00 to $16.00 in a research report on Monday. KeyCorp assumed coverage on Centuri in a report on Thursday, June 27th. They set a “sector weight” rating for the company. Finally, Wells Fargo & Company decreased their target price on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Centuri Stock Up 5.4 %

The business has a 50 day simple moving average of $16.27. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 2.05.

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

Insider Buying and Selling

In other news, Director William Fehrman purchased 20,000 shares of Centuri stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $16.50 per share, with a total value of $330,000.00. Following the completion of the purchase, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Centuri

A number of institutional investors have recently modified their holdings of CTRI. Rhumbline Advisers purchased a new stake in shares of Centuri in the second quarter worth $300,000. Sandia Investment Management LP bought a new position in shares of Centuri during the second quarter valued at $466,000. Point72 DIFC Ltd bought a new position in shares of Centuri during the second quarter valued at $657,000. Gabelli Funds LLC bought a new position in shares of Centuri during the second quarter valued at $880,000. Finally, Versant Capital Management Inc bought a new position in shares of Centuri during the third quarter valued at $1,153,000.

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.