Cantor Fitzgerald Issues Pessimistic Forecast for Everus Construction Group (NYSE:ECG) Stock Price

Everus Construction Group (NYSE:ECG) had its price objective reduced by stock analysts at Cantor Fitzgerald from $152.00 to $123.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 45.52% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wall Street Zen raised Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. DA Davidson began coverage on Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 target price for the company. Oppenheimer lowered their price target on Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Everus Construction Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.67.

Everus Construction Group Stock Performance

NYSE:ECG opened at $84.53 on Tuesday. Everus Construction Group has a 12 month low of $70.44 and a 12 month high of $171.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market capitalization of $4.32 billion, a PE ratio of 14.96 and a beta of 2.36. The business’s fifty day moving average price is $110.85 and its 200 day moving average price is $125.16.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.19 billion. Everus Construction Group had a return on equity of 39.18% and a net margin of 6.20%. Everus Construction Group’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. On average, sell-side analysts anticipate that Everus Construction Group will post 5.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Sparby acquired 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was bought at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the purchase, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Everus Construction Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ECG. Deutsche Bank AG acquired a new position in shares of Everus Construction Group in the second quarter valued at approximately $27,186,000. Fifth Third Bancorp boosted its holdings in shares of Everus Construction Group by 9,475.7% in the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock valued at $3,855,000 after acquiring an additional 32,312 shares in the last quarter. First Trust Advisors LP boosted its holdings 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 valued at $151,225,000 after acquiring an additional 670,646 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Everus Construction Group during the second quarter worth about $2,513,000. Finally, California State Teachers Retirement System increased its stake in shares of Everus Construction Group by 23.1% during the first quarter. California State Teachers Retirement System now owns 57,084 shares of the company’s stock worth $6,739,000 after acquiring an additional 10,726 shares during the period.

Everus Construction Group Company Profile

Everus Construction Group provides construction services for commercial, industrial, institutional and utility customers. Its work includes electrical and mechanical construction, fire protection, and the building and maintenance of infrastructure for energy and utility systems.

The company also performs utility and civil construction, including work on electric transmission and distribution lines, underground utilities, pipelines, water and sewer systems, and transportation-related infrastructure.

Everus is headquartered in Bismarck, North Dakota, and serves customers across the United States, with operations concentrated in the central and western regions.