Centuri (NYSE:CTRI) Sees Large Volume Increase – Time to Buy?

Centuri Holdings, Inc. (NYSE:CTRI) shares saw unusually-high trading volume on Friday . Approximately 297,762 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 514,056 shares.The stock last traded at $17.78 and had previously closed at $17.33.

Wall Street Analyst Weigh In

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

Centuri Stock Performance

The business 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 released its quarterly earnings data 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 company had revenue of $672.08 million for the quarter, compared to analyst estimates of $760.55 million. Centuri’s quarterly revenue was down 16.6% compared to the same quarter last year. Equities analysts forecast that Centuri Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Centuri

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new stake in Centuri in the third quarter valued at $1,153,000. Ghisallo Capital Management LLC acquired a new position in Centuri during the 2nd quarter worth about $3,409,000. Clearbridge Investments LLC purchased a new position in Centuri during the 2nd quarter valued at about $5,587,000. Point72 Asset Management L.P. purchased a new stake in Centuri during the second quarter worth about $4,339,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Centuri during the second quarter worth about $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.