Cosan (NYSE:CZZ) Cut to Equal at Morgan Stanley

Morgan Stanley downgraded shares of Cosan (NYSE:CZZ) from an overweight rating to an equal rating in a research report released on Friday morning, BenzingaRatingsTable reports. They currently have $16.00 price objective on the basic materials company’s stock, up from their prior price objective of $14.00.

Separately, TheStreet upgraded shares of Cosan from a c+ rating to a b rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cosan has an average rating of Hold and an average target price of $12.92.

Cosan stock opened at $14.89 on Friday. The stock’s 50 day simple moving average is $14.12 and its two-hundred day simple moving average is $12.97. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.53 and a current ratio of 1.65. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 10.04 and a beta of 1.25. Cosan has a fifty-two week low of $6.68 and a fifty-two week high of $15.67.



Cosan (NYSE:CZZ) last posted its quarterly earnings data on Thursday, August 15th. The basic materials company reported $0.22 earnings per share for the quarter. The business had revenue of $1.29 billion for the quarter. Cosan had a return on equity of 8.32% and a net margin of 6.68%. On average, analysts predict that Cosan will post 0.66 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CZZ. JPMorgan Chase & Co. lifted its holdings in shares of Cosan by 90.8% during the first quarter. JPMorgan Chase & Co. now owns 1,951,346 shares of the basic materials company’s stock valued at $22,616,000 after purchasing an additional 928,498 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Cosan by 38.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,350,964 shares of the basic materials company’s stock worth $15,654,000 after acquiring an additional 376,109 shares during the last quarter. CIBC World Markets Inc. purchased a new position in Cosan in the 1st quarter worth approximately $545,000. NumerixS Investment Technologies Inc purchased a new position in Cosan in the 1st quarter worth approximately $194,000. Finally, Cutler Group LP raised its holdings in Cosan by 233.5% in the 1st quarter. Cutler Group LP now owns 4,273 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 7,473 shares during the last quarter. Hedge funds and other institutional investors own 22.86% of the company’s stock.

About Cosan

Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.

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