Centuri (NYSE:CTRI) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Centuri (NYSE:CTRI) had its target price lifted by stock analysts at Robert W. Baird from $19.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 3.30% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Bank of America reduced their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 30th. UBS Group downgraded shares of Centuri from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $17.00 in a research report on Tuesday, July 30th. Wells Fargo & Company decreased their target price on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut Centuri from a “neutral” rating to an “underweight” rating and cut their target price for the company from $19.00 to $16.00 in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.40.

Centuri Stock Performance

Centuri stock opened at $20.38 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a fifty day moving average of $17.38 and a two-hundred day moving average of $20.29. Centuri has a fifty-two week low of $14.47 and a fifty-two week high of $28.65.

Hedge Funds Weigh In On Centuri

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTRI. Massachusetts Financial Services Co. MA acquired a new position in Centuri in the second quarter worth approximately $33,619,000. Clearbridge Investments LLC acquired a new stake in Centuri during the 2nd quarter worth about $5,587,000. Point72 Asset Management L.P. purchased a new stake in Centuri during the second quarter valued at about $4,339,000. Ghisallo Capital Management LLC acquired a new position in shares of Centuri in the second quarter worth about $3,409,000. Finally, Maverick Capital Ltd. purchased a new position in shares of Centuri in the second quarter worth approximately $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.