Citigroup Reiterates “Buy” Rating for Cosan (NYSE:CSAN)

Citigroup restated their buy rating on shares of Cosan (NYSE:CSAN) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $19.00 price objective on the stock.

Separately, UBS Group upgraded shares of Cosan to a “strong-buy” rating in a research note on Friday, October 25th.

Cosan Price Performance

Shares of CSAN stock opened at $5.59 on Monday. Cosan has a fifty-two week low of $5.30 and a fifty-two week high of $16.45. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.73 and a current ratio of 1.86. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 6.63 and a beta of 1.35. The stock’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $8.85.

Institutional Investors Weigh In On Cosan

A number of hedge funds and other institutional investors have recently made changes to their positions in CSAN. Renaissance Technologies LLC grew its holdings in Cosan by 2.1% in the second quarter. Renaissance Technologies LLC now owns 4,820,882 shares of the company’s stock valued at $46,955,000 after purchasing an additional 100,700 shares during the period. Dimensional Fund Advisors LP grew its stake in Cosan by 339.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 114,002 shares of the company’s stock valued at $1,110,000 after acquiring an additional 88,064 shares during the period. Signaturefd LLC raised its position in Cosan by 2,736.9% during the second quarter. Signaturefd LLC now owns 11,915 shares of the company’s stock worth $116,000 after acquiring an additional 11,495 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Cosan during the third quarter valued at $808,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cosan in the third quarter valued at about $228,000.

About Cosan

Cosan SA engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company’s Raízen segment engages in the production, commercialization, origination, and trading of ethanol, bioenergy, renewable sources, and sugar; trading and resale of electricity; and distribution and commercialization of fuels and lubricants.