Centuri (NYSE:CTRI) Stock Price Down 4.7% – Should You Sell?

Centuri Holdings, Inc. (NYSE:CTRI) shares fell 4.7% during mid-day trading on Monday . The stock traded as low as $17.22 and last traded at $17.22. 160,996 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 519,544 shares. The stock had previously closed at $18.06.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTRI. JPMorgan Chase & Co. lowered Centuri from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $19.00 to $16.00 in a research note on Monday, October 7th. Bank of America cut their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a report on Tuesday, July 30th. KeyCorp started coverage on Centuri in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $17.00 in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company dropped their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Centuri presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Centuri Trading Down 2.5 %

The company has a 50-day simple moving average of $16.33. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.94.

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

Insiders Place Their Bets

In other Centuri news, Director William Fehrman bought 20,000 shares of Centuri stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTRI. Versant Capital Management Inc acquired a new stake in shares of Centuri in the third quarter worth $1,153,000. Ghisallo Capital Management LLC acquired a new stake in shares of Centuri in the second quarter worth $3,409,000. Clearbridge Investments LLC acquired a new stake in shares of Centuri in the second quarter worth $5,587,000. Point72 Asset Management L.P. purchased a new stake in Centuri during the second quarter worth $4,339,000. Finally, Maverick Capital Ltd. purchased a new stake in Centuri during the second quarter worth $2,922,000.

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.