Wells Fargo & Company Cuts Centuri (NYSE:CTRI) Price Target to $22.00

Centuri (NYSE:CTRI) had its target price reduced by Wells Fargo & Company from $29.00 to $22.00 in a research report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CTRI has been the topic of several other research reports. Baird R W upgraded shares of Centuri to a strong-buy rating in a research report on Monday, May 13th. Williams Capital upgraded shares of Centuri to a strong-buy rating in a research report on Tuesday, May 14th. Bank of America restated an underperform rating and issued a $21.00 price target (down previously from $26.00) on shares of Centuri in a research report on Thursday, June 27th. KeyCorp started coverage on shares of Centuri in a research report on Thursday, June 27th. They issued a sector weight rating on the stock. Finally, Robert W. Baird started coverage on shares of Centuri in a research report on Monday, May 13th. They issued an outperform rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Centuri currently has an average rating of Moderate Buy and a consensus price target of $20.60.

Centuri Trading Down 0.4 %

Centuri stock opened at $16.28 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 5.91. Centuri has a 1 year low of $14.73 and a 1 year high of $28.65. The firm’s 50 day moving average is $22.64.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Monday, July 29th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $672.08 million for the quarter, compared to the consensus estimate of $760.55 million. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities analysts forecast that Centuri will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Fehrman acquired 20,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $16.50 per share, with a total value of $330,000.00. Following the completion of the purchase, the director now directly owns 45,000 shares of the company’s stock, valued at $742,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Centuri

An institutional investor recently bought a new position in Centuri stock. Rhumbline Advisers bought a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,382 shares of the company’s stock, valued at approximately $300,000.

Centuri Company Profile

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.