Centuri (NYSE:CTRI) Stock Price Up 8.9% After Strong Earnings

Centuri Holdings, Inc. (NYSE:CTRI) shares shot up 8.9% on Tuesday following a stronger than expected earnings report. The company traded as high as $21.60 and last traded at $21.26. 103,990 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 432,941 shares. The stock had previously closed at $19.53.

The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. Centuri had a negative return on equity of 55.33% and a negative net margin of 8.90%. The firm had revenue of $550.08 million for the quarter, compared to analysts’ expectations of $534.41 million. The business’s quarterly revenue was up 4.2% on a year-over-year basis.

Analyst Ratings Changes

CTRI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Centuri from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Centuri from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Robert W. Baird dropped their price target on Centuri from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.00.

Hedge Funds Weigh In On Centuri

A number of large investors have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Centuri by 410.4% in the 3rd quarter. Barclays PLC now owns 23,657 shares of the company’s stock valued at $382,000 after buying an additional 19,022 shares in the last quarter. R Squared Ltd acquired a new stake in Centuri in the fourth quarter valued at approximately $26,000. Rhumbline Advisers boosted its stake in Centuri by 5.7% in the fourth quarter. Rhumbline Advisers now owns 18,485 shares of the company’s stock valued at $357,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Centuri by 12.0% in the fourth quarter. Bank of New York Mellon Corp now owns 32,048 shares of the company’s stock worth $619,000 after purchasing an additional 3,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Centuri by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 120,540 shares of the company’s stock worth $2,328,000 after purchasing an additional 9,176 shares in the last quarter.

Centuri Stock Performance

The firm has a fifty day moving average price of $17.46 and a 200 day moving average price of $19.31. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $1.83 billion and a PE ratio of 1,036.00.

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.