Centuri (NYSE:CTRI) Shares Down 4.7% – Time to Sell?

Centuri Holdings, Inc. (NYSE:CTRI) dropped 4.7% during mid-day trading on Monday . The company traded as low as $17.22 and last traded at $17.22. Approximately 160,996 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 519,544 shares. The stock had previously closed at $18.06.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTRI shares. Wells Fargo & Company lowered their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Bank of America lowered their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research note on Tuesday, July 30th. 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 report on Monday, October 7th. UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $17.00 in a research note on Tuesday, July 30th. Finally, KeyCorp assumed coverage on Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Centuri Stock Up 4.6 %

The firm has a fifty day moving average of $16.43. 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 announced its quarterly earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million for the quarter, compared to analysts’ expectations of $760.55 million. The business’s quarterly revenue was down 16.6% on a year-over-year basis. On average, analysts expect that Centuri Holdings, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity at Centuri

In other news, Director William Fehrman purchased 20,000 shares of Centuri stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $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 through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers bought a new stake in Centuri during the second quarter valued at approximately $300,000. Sandia Investment Management LP purchased a new stake in Centuri during the second quarter valued at about $466,000. Point72 DIFC Ltd bought a new position in Centuri during the 2nd quarter worth approximately $657,000. Gabelli Funds LLC bought a new position in shares of Centuri in the second quarter worth approximately $880,000. Finally, Versant Capital Management Inc purchased a new position in shares of Centuri in the third quarter valued at about $1,153,000.

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.