Cosan (NYSE:CZZ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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.”
Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Cosan from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Morgan Stanley downgraded shares of Cosan from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 6th. ValuEngine downgraded shares of Cosan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, Credit Suisse Group raised shares of Cosan from a “neutral” rating to an “outperform” rating in a research note on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $10.00.
A number of hedge funds have recently bought and sold shares of CZZ. Sei Investments Co. increased its stake in Cosan by 18.1% in the 2nd quarter. Sei Investments Co. now owns 108,848 shares of the basic materials company’s stock worth $697,000 after buying an additional 16,671 shares during the period. Trexquant Investment LP increased its position in Cosan by 25.4% during the 2nd quarter. Trexquant Investment LP now owns 31,720 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 6,420 shares during the period. Advisors Asset Management Inc. increased its position in Cosan by 72.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 69,214 shares of the basic materials company’s stock valued at $444,000 after purchasing an additional 29,115 shares during the period. SG Americas Securities LLC purchased a new position in Cosan during the 2nd quarter valued at about $456,000. Finally, BNP Paribas Arbitrage SA increased its position in Cosan by 51.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 54,531 shares of the basic materials company’s stock valued at $350,000 after purchasing an additional 18,536 shares during the period. 41.68% of the stock is currently owned by institutional investors.
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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