Everus Construction Group (NYSE:ECG) Raised to “Strong-Buy” at Zacks Research

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

A number of other equities analysts have also commented on the company. Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a report on Friday, May 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. DA Davidson initiated coverage on Everus Construction Group in a research report on Friday, August 21st. They set a “buy” rating and a $168.00 price target for the company. Finally, Cantor Fitzgerald cut their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $169.50.

Everus Construction Group Price Performance

Shares of NYSE:ECG opened at $121.40 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. The company has a market capitalization of $6.20 billion, a P/E ratio of 24.43 and a beta of 2.37. Everus Construction Group has a fifty-two week low of $73.00 and a fifty-two week high of $171.58. The company’s 50-day moving average is $137.83 and its 200 day moving average is $133.29.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $1.03 EPS. Everus Construction Group’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts forecast that Everus Construction Group will post 5.25 earnings per share for the current year.

Insider Activity

In related news, Director David M. Sparby acquired 1,000 shares of the stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $136.69, for a total value of $451,077.00. Following the sale, the vice president directly owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Everus Construction Group

Institutional investors have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Everus Construction Group in the 2nd quarter worth $3,813,000. California State Teachers Retirement System boosted its holdings in shares of Everus Construction Group by 15,822.6% during the second quarter. California State Teachers Retirement System now owns 9,089,247 shares of the company’s stock worth $1,508,361,000 after purchasing an additional 9,032,163 shares during the period. Wedmont Private Capital boosted its holdings in shares of Everus Construction Group by 22.0% during the second quarter. Wedmont Private Capital now owns 2,505 shares of the company’s stock worth $416,000 after purchasing an additional 452 shares during the period. Maloon Powers Pitre Higgins & Dennehy LLC bought a new stake in shares of Everus Construction Group in the second quarter worth about $227,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Everus Construction Group in the second quarter worth about $39,000.

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.