Cosan (NYSE:CZZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, December 19th.
According to Zacks, “In the last three months, Cosan's American Depository Receipts (ADR) have outperformed the industry. We believe that Cosan constantly strives to improve its production capabilities and services to capitalize on the growing sugar and ethanol demand. Its strategy of expanding its network of service stations and acquiring meaningful businesses aided growth over time. For the crop year April 2017-March 2018, the company anticipates volume of sugarcane crushed to be within 59-63 million. Sugar volume produced is likely to come in a range of 4.3-4.7 million tons. However, the company is exposed to risks from geo-political issues, foreign exchange variations, unfavorable weather conditions and mounting operating costs. Also, high debts might raise the company's financial obligations. Earnings estimates on the stock remained stable for both 2017 and 2018 in the last 60 days.”
CZZ has been the topic of several other research reports. Morgan Stanley cut shares of Cosan from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 6th. ValuEngine lowered shares of Cosan from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Credit Suisse Group upgraded shares of Cosan from a “neutral” rating to an “outperform” rating in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Cosan from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.00.
Cosan (NYSE CZZ) traded up $0.23 on Tuesday, reaching $10.36. 625,400 shares of the company’s stock were exchanged, compared to its average volume of 913,652. The company has a quick ratio of 1.35, a current ratio of 1.44 and a debt-to-equity ratio of 1.34. The stock has a market cap of $2,780.00, a price-to-earnings ratio of 33.42 and a beta of 2.37. Cosan has a 12 month low of $5.63 and a 12 month high of $10.54.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings in shares of Cosan by 18.1% in the second quarter. Sei Investments Co. now owns 108,848 shares of the basic materials company’s stock valued at $697,000 after acquiring an additional 16,671 shares during the period. Trexquant Investment LP boosted its holdings in shares of Cosan by 25.4% in the second quarter. Trexquant Investment LP now owns 31,720 shares of the basic materials company’s stock valued at $203,000 after acquiring an additional 6,420 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Cosan by 72.6% in the second quarter. Advisors Asset Management Inc. now owns 69,214 shares of the basic materials company’s stock valued at $444,000 after acquiring an additional 29,115 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cosan during the second quarter worth approximately $456,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Cosan by 51.5% during the second quarter. BNP Paribas Arbitrage SA now owns 54,531 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 18,536 shares during the last quarter. 26.60% of the stock is owned by hedge funds and other institutional investors.
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Cosan Limited (Cosan) is a holding company. The Company’s segments include Raizen Energia, Raizen Combustiveis, COMGAS, Cosan Logistica, Lubricants and Other business. The Company’s other business include other investments, in addition to the corporate activities. The Company offers Logistics services, including transportation, port loading and storage of sugar, leasing or lending of locomotives, wagons and other railway equipment, through its subsidiaries Rumo Logistica Operadora Multimodal SA (Rumo), logistic segment (Logistic).
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