Cosan S.A. Sponsored ADR (NYSE:CSAN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Cosan S.A. Sponsored ADR (NYSE:CSAN) have received an average recommendation of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $3.85.

A number of research analysts have recently commented on the stock. HSBC downgraded shares of Cosan from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $5.00 to $3.20 in a research report on Tuesday, May 26th. Jefferies Financial Group downgraded shares of Cosan to a “hold” rating in a research note on Tuesday, May 26th. Zacks Research upgraded Cosan to a “hold” rating in a report on Thursday, June 18th. Citigroup raised Cosan to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th.

Cosan Price Performance

Shares of CSAN opened at $3.00 on Wednesday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -1.22 and a beta of 0.72. Cosan has a 1-year low of $2.52 and a 1-year high of $6.01. The company’s fifty day simple moving average is $3.01 and its 200 day simple moving average is $3.85. The company has a current ratio of 1.87, a quick ratio of 1.76 and a debt-to-equity ratio of 2.12.

Insiders Place Their Bets

In related news, CEO Marcelo Eduardo Martins acquired 2,441,528 shares of Cosan stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the completion of the transaction, the chief executive officer directly owned 4,890,286 shares in the company, valued at $25,136,070.04. This trade represents a 99.70% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The SEC filing for this sale provides additional information.

Institutional Trading of Cosan

Several hedge funds and other institutional investors have recently modified their holdings of CSAN. SmartHarvest Portfolios LLC acquired a new position in Cosan in the 1st quarter valued at about $46,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cosan during the fourth quarter worth approximately $46,000. Royal Bank of Canada lifted its position in Cosan by 3,266.6% during the first quarter. Royal Bank of Canada now owns 12,389 shares of the company’s stock worth $51,000 after acquiring an additional 12,021 shares during the last quarter. Tuttle Capital Management LLC bought a new stake in shares of Cosan during the fourth quarter worth approximately $51,000. Finally, Blue Trust Inc. boosted its holdings in shares of Cosan by 12,141.9% during the first quarter. Blue Trust Inc. now owns 12,854 shares of the company’s stock worth $53,000 after acquiring an additional 12,749 shares during the period.

Cosan Company Profile

Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.

Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.