CI&T (NYSE:CINT) Reaches New 12-Month Low on Analyst Downgrade

CI&T Inc. (NYSE:CINT)’s share price hit a new 52-week low during trading on Wednesday after Wedbush lowered their price target on the stock from $9.00 to $7.00. Wedbush currently has an outperform rating on the stock. CI&T traded as low as $3.75 and last traded at $3.78, with a volume of 41691 shares trading hands. The stock had previously closed at $3.82.

Several other research firms have also recently commented on CINT. Canaccord Genuity Group raised their target price on shares of CI&T from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Wall Street Zen raised CI&T from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. decreased their target price on CI&T from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings upgraded CI&T from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, UBS Group upped their price target on CI&T from $7.00 to $7.10 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Hedge Funds Weigh In On CI&T

Several large investors have recently made changes to their positions in the business. Royce & Associates LP purchased a new stake in shares of CI&T in the 3rd quarter worth approximately $2,696,000. GSA Capital Partners LLP boosted its holdings in CI&T by 32.0% in the third quarter. GSA Capital Partners LLP now owns 132,148 shares of the company’s stock worth $681,000 after acquiring an additional 32,063 shares in the last quarter. Wedbush Securities Inc. bought a new stake in CI&T in the third quarter worth $58,000. Lingohr Asset Management GmbH purchased a new stake in shares of CI&T in the third quarter worth $235,000. Finally, GWN Securities Inc. bought a new position in shares of CI&T during the third quarter valued at $205,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

CI&T Price Performance

The stock has a market capitalization of $498.62 million, a P/E ratio of 12.08 and a beta of 0.85. The firm has a fifty day moving average price of $4.75 and a two-hundred day moving average price of $4.70. The company has a quick ratio of 1.33, a current ratio of 1.34 and a debt-to-equity ratio of 0.20.

CI&T (NYSE:CINT) last released its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $128.74 million for the quarter, compared to the consensus estimate of $133.28 million. CI&T had a net margin of 7.90% and a return on equity of 13.33%. On average, analysts expect that CI&T Inc. will post 0.39 EPS for the current year.

About CI&T

CI&T Inc (NYSE:CINT) is a global digital solutions and technology services provider specializing in end-to-end digital transformation. The company partners with clients across industries such as financial services, retail, healthcare and technology to deliver tailored software products, agile development practices and customer-centric design. Its core offerings include digital strategy consulting, user experience and interface design, cloud-native application development, data engineering and full-cycle product lifecycle management.

Leveraging a proprietary agile framework, CI&T helps organizations accelerate time-to-market and improve operational efficiency through continuous delivery and DevOps automation.