Cosan Limited (NYSE:CZZ) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday.
According to Zacks, “In the last year, Cosan's American Depository Receipts (ADR) outperformed the industry. We believe that Cosan is exposed to risks from geo-political issues, foreign exchange variations and high operating costs. Also, unfavorable weather conditions, especially drought, frost and heavy rainfall, can severely impact sugarcane production and hence, impact the company's financials. Exiting second-quarter 2017, the company had loans and borrowings of R$20.5 billion. Such high debts, if unchecked, might raise the company's financial obligations.”
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Cosan Limited from a “buy” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group upgraded shares of Cosan Limited from a “neutral” rating to an “outperform” rating in a report on Monday. Morgan Stanley cut shares of Cosan Limited from an “overweight” rating to an “equal weight” rating in a report on Friday, October 6th. Finally, BidaskClub upgraded shares of Cosan Limited from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold”.
Cosan Limited (NYSE CZZ) traded down 1.56% during trading on Thursday, hitting $8.81. 82,047 shares of the stock were exchanged. Cosan Limited has a 12-month low of $5.63 and a 12-month high of $9.50. The firm has a market cap of $2.33 billion, a PE ratio of 80.83 and a beta of 2.27. The stock’s 50-day moving average price is $8.26 and its 200-day moving average price is $7.55.
Hedge funds have recently bought and sold shares of the stock. FNY Partners Fund LP acquired a new stake in shares of Cosan Limited during the first quarter worth approximately $141,000. Campbell & CO Investment Adviser LLC bought a new position in Cosan Limited during the second quarter valued at approximately $108,000. Tower Research Capital LLC TRC raised its position in Cosan Limited by 676.1% during the first quarter. Tower Research Capital LLC TRC now owns 18,247 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 15,896 shares in the last quarter. Capital Fund Management S.A. bought a new position in Cosan Limited during the second quarter valued at approximately $133,000. Finally, Fox Run Management L.L.C. raised its position in Cosan Limited by 40.1% during the second quarter. Fox Run Management L.L.C. now owns 22,000 shares of the basic materials company’s stock valued at $141,000 after acquiring an additional 6,300 shares in the last quarter. Institutional investors and hedge funds own 43.22% of the company’s stock.
About Cosan Limited
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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