Everus Construction Group (NYSE:ECG) Sets New 12-Month High – Time to Buy?

Shares of Everus Construction Group, Inc. (NYSE:ECG) reached a new 52-week high on Thursday . The company traded as high as $138.60 and last traded at $137.1050, with a volume of 44759 shares traded. The stock had previously closed at $132.89.

Analysts Set New Price Targets

A number of research firms have recently commented on ECG. Zacks Research upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. DA Davidson reiterated a “neutral” rating and issued a $102.00 price objective on shares of Everus Construction Group in a report on Wednesday, February 25th. Stifel Nicolaus raised their price objective on Everus Construction Group to $153.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a report on Tuesday. Finally, Cantor Fitzgerald started coverage on shares of Everus Construction Group in a research report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group has a consensus rating of “Moderate Buy” and a consensus price target of $119.60.

Everus Construction Group Stock Up 3.3%

The company has a quick ratio of 1.70, a current ratio of 1.76 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $118.16 and its 200-day moving average price is $100.02. The stock has a market capitalization of $7.01 billion, a PE ratio of 34.81 and a beta of 2.88.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.36. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $879.57 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. Analysts forecast that Everus Construction Group, Inc. will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On Everus Construction Group

Several large investors have recently modified their holdings of ECG. Nordea Investment Management AB purchased a new stake in shares of Everus Construction Group during the fourth quarter valued at approximately $4,431,000. Capital International Investors purchased a new position in Everus Construction Group in the 3rd quarter worth approximately $165,993,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Everus Construction Group by 1,049.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company’s stock valued at $5,209,000 after acquiring an additional 55,463 shares in the last quarter. Range Financial Group LLC purchased a new stake in Everus Construction Group during the 4th quarter valued at $1,146,000. Finally, Public Sector Pension Investment Board boosted its stake in Everus Construction Group by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company’s stock valued at $17,063,000 after purchasing an additional 25,140 shares during the last quarter.

About Everus Construction Group

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.