The Goldman Sachs Group Cuts Cosan (NYSE:CSAN) Price Target to $4.50

Cosan (NYSE:CSAN) had its price objective cut by equities research analysts at The Goldman Sachs Group from $5.00 to $4.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 6.54% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. HSBC reissued a “reduce” rating and set a $4.40 price objective on shares of Cosan in a report on Monday, September 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Cosan in a research note on Wednesday, October 8th. Zacks Research cut Cosan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Wall Street Zen raised Cosan from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Hsbc Global Res raised Cosan to a “moderate sell” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $9.30.

Cosan Stock Down 1.5%

CSAN stock traded down $0.08 during midday trading on Monday, hitting $4.82. The company’s stock had a trading volume of 658,957 shares, compared to its average volume of 1,598,201. The firm’s 50-day moving average is $4.61 and its 200-day moving average is $4.84. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 1.88. Cosan has a 12 month low of $3.80 and a 12 month high of $6.74. The company has a market cap of $2.25 billion, a PE ratio of -3.25 and a beta of 1.00.

Cosan (NYSE:CSAN) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.49). Cosan had a negative return on equity of 27.61% and a negative net margin of 28.08%.The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $7.09 billion. On average, equities research analysts forecast that Cosan will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FORA Capital LLC purchased a new position in shares of Cosan in the first quarter worth $58,000. Ballentine Partners LLC purchased a new position in Cosan during the second quarter valued at $64,000. Verus Capital Partners LLC bought a new stake in Cosan in the 3rd quarter valued at $69,000. Savant Capital LLC purchased a new stake in Cosan in the 2nd quarter worth $77,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Cosan during the 2nd quarter valued at about $109,000.

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.