Everus Construction Group (NYSE:ECG) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Everus Construction Group (NYSE:ECG) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

ECG has been the topic of a number of other research reports. DA Davidson set a $102.00 target price on shares of Everus Construction Group in a research note on Thursday, November 6th. Stifel Nicolaus upped their price objective on Everus Construction Group from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen raised Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research note on Wednesday, October 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Everus Construction Group in a report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.33.

Everus Construction Group Stock Performance

NYSE:ECG opened at $89.66 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 1.76. The stock has a 50-day simple moving average of $90.47 and a two-hundred day simple moving average of $81.23. The firm has a market capitalization of $4.57 billion, a PE ratio of 25.40 and a beta of 3.84. Everus Construction Group has a 52-week low of $31.38 and a 52-week high of $103.08.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.49. The firm had revenue of $986.82 million for the quarter, compared to analysts’ expectations of $830.60 million. Everus Construction Group had a return on equity of 36.74% and a net margin of 5.18%.The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. Analysts forecast that Everus Construction Group will post 2.49 EPS for the current year.

Institutional Investors Weigh In On Everus Construction Group

A number of hedge funds have recently bought and sold shares of ECG. Geneos Wealth Management Inc. raised its position in shares of Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Everus Construction Group by 91.6% in the 2nd quarter. Signaturefd LLC now owns 435 shares of the company’s stock valued at $28,000 after purchasing an additional 208 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after purchasing an additional 137 shares during the period. Country Trust Bank bought a new stake in Everus Construction Group in the second quarter worth $31,000. Finally, Salomon & Ludwin LLC bought a new position in Everus Construction Group during the third quarter valued at $33,000.

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.