Bank of America Trims Centuri (NYSE:CTRI) Target Price to $15.00

Centuri (NYSE:CTRI) had its price objective lowered by Bank of America from $21.00 to $15.00 in a research report report published on Tuesday morning, Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other analysts have also recently issued reports about the stock. KeyCorp initiated coverage on shares of Centuri in a research report on Thursday, June 27th. They set a sector weight rating for the company. UBS Group lowered Centuri from a buy rating to a neutral rating and lowered their target price for the company from $30.00 to $17.00 in a research note on Tuesday. Robert W. Baird assumed coverage on Centuri in a report on Monday, May 13th. They set an outperform rating and a $30.00 target price on the stock. Wells Fargo & Company decreased their price target on Centuri from $29.00 to $22.00 and set an overweight rating for the company in a report on Tuesday. Finally, Williams Capital upgraded shares of Centuri to a strong-buy rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $20.60.

Centuri Price Performance

CTRI stock opened at $16.32 on Tuesday. The firm’s 50-day moving average price is $22.82. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 5.91. Centuri has a 12-month low of $14.73 and a 12-month high of $28.65.

Centuri (NYSE:CTRI) last posted its earnings results on Monday, July 29th. The company reported $0.20 earnings per share (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. Centuri’s revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts forecast that Centuri will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Centuri

In related news, Director William Fehrman purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $16.50 per share, for a total transaction of $330,000.00. Following the completion of the purchase, the director now owns 45,000 shares in the company, valued at $742,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Centuri

An institutional investor recently bought a new position in Centuri stock. Rhumbline Advisers bought a new position in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,382 shares of the company’s stock, valued at approximately $300,000.

About Centuri

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.