Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Increase in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,930,000 shares, a growth of 5.4% from the August 15th total of 2,780,000 shares. Currently, 17.6% of the company’s shares are sold short. Based on an average trading volume of 602,600 shares, the short-interest ratio is currently 4.9 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTRI. UBS Group cut shares of Centuri from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $17.00 in a research note on Tuesday, July 30th. Wells Fargo & Company decreased their price target on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Centuri from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. KeyCorp began coverage on shares of Centuri in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Bank of America reduced their target price on shares of Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a report on Tuesday, July 30th. One 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Activity at Centuri

In other news, Director William Fehrman bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought 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 $742,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Centuri

Large investors have recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC purchased a new position in shares of Centuri in the second quarter worth $3,409,000. Clearbridge Investments LLC bought a new stake in Centuri in the second quarter worth $5,587,000. Point72 Asset Management L.P. bought a new stake in Centuri in the second quarter worth $4,339,000. Maverick Capital Ltd. bought a new stake in Centuri in the second quarter worth $2,922,000. Finally, Squarepoint Ops LLC bought a new stake in Centuri in the second quarter worth $1,393,000.

Centuri Stock Up 0.6 %

NYSE:CTRI traded up $0.10 on Thursday, reaching $16.70. 29,208 shares of the stock traded hands, compared to its average volume of 543,276. The stock’s fifty day moving average is $17.29. Centuri has a 12 month low of $14.47 and a 12 month high of $28.65. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05.

Centuri (NYSE:CTRI) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $760.55 million. Centuri’s revenue for the quarter was down 16.6% compared to the same quarter last year. Analysts predict that Centuri will post 0.43 earnings per share for the current fiscal year.

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.