Zacks Research Upgrades Everus Construction Group (NYSE:ECG) to Strong-Buy

Everus Construction Group (NYSE:ECG) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on ECG. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Cantor Fitzgerald boosted their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. DA Davidson reissued a “neutral” rating and set a $102.00 target price on shares of Everus Construction Group in a research report on Wednesday, February 25th. Finally, Freedom Capital cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.67.

Everus Construction Group Trading Down 2.3%

Shares of ECG stock opened at $152.37 on Monday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 34.95 and a beta of 2.32. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. Everus Construction Group has a fifty-two week low of $58.00 and a fifty-two week high of $171.58. The firm’s 50 day moving average price is $144.92 and its two-hundred day moving average price is $116.04.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. Everus Construction Group’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, analysts anticipate that Everus Construction Group will post 4.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ECG. Wasatch Advisors LP bought a new stake in shares of Everus Construction Group in the fourth quarter worth $184,838,000. Capital International Investors bought a new stake in shares of Everus Construction Group in the third quarter worth $165,993,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Everus Construction Group by 147,209.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after buying an additional 1,260,117 shares during the last quarter. Invesco Ltd. increased its stake in shares of Everus Construction Group by 86.4% in the third quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after buying an additional 832,389 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after buying an additional 670,646 shares during the last quarter.

Everus Construction Group Company Profile

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.