Centuri (NYSE:CTRI) Shares Gap Down – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI) gapped down before the market opened on Thursday . The stock had previously closed at $41.80, but opened at $37.52. Centuri shares last traded at $35.3840, with a volume of 673,416 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird set a $41.00 price objective on shares of Centuri in a research report on Friday. Wall Street Zen raised shares of Centuri from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Wells Fargo & Company increased their price objective on shares of Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research report on Friday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.68.

Centuri Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.78 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $3.49 billion, a PE ratio of 101.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.34. The stock’s 50-day moving average is $31.88 and its two-hundred day moving average is $27.61.

Centuri (NYSE:CTRI) last issued its earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. On average, equities analysts predict that Centuri Holdings, Inc. will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Centuri

A number of hedge funds have recently added to or reduced their stakes in CTRI. Goldman Sachs Group Inc. grew its stake in Centuri by 164.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company’s stock worth $2,517,000 after acquiring an additional 95,585 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Centuri by 6.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company’s stock worth $329,000 after acquiring an additional 890 shares in the last quarter. Legal & General Group Plc grew its stake in Centuri by 126.8% in the 2nd quarter. Legal & General Group Plc now owns 29,723 shares of the company’s stock worth $667,000 after acquiring an additional 16,618 shares in the last quarter. Rhumbline Advisers grew its stake in Centuri by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 24,188 shares of the company’s stock worth $543,000 after acquiring an additional 2,228 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Centuri by 51.4% in the 2nd quarter. American Century Companies Inc. now owns 47,447 shares of the company’s stock worth $1,065,000 after acquiring an additional 16,115 shares in the last quarter.

Centuri Company Profile

Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.