Short Interest in Everus Construction Group, Inc. (NYSE:ECG) Increases By 26.2%

Everus Construction Group, Inc. (NYSE:ECG) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 1,810,787 shares, an increase of 26.2% from the December 31st total of 1,434,322 shares. Based on an average trading volume of 912,752 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 912,752 shares, the days-to-cover ratio is currently 2.0 days.

Everus Construction Group Price Performance

Shares of NYSE ECG traded up $2.04 during midday trading on Tuesday, hitting $92.68. The stock had a trading volume of 444,843 shares, compared to its average volume of 770,644. The company has a market capitalization of $4.73 billion, a PE ratio of 26.25 and a beta of 3.84. The stock has a 50 day simple moving average of $90.26 and a 200-day simple moving average of $84.72. Everus Construction Group has a 1 year low of $31.38 and a 1 year high of $103.08. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.47.

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

Institutional Investors Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECG. Geneos Wealth Management Inc. boosted its holdings in Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Signaturefd LLC raised its position in shares of Everus Construction Group by 91.6% during the 2nd quarter. Signaturefd LLC now owns 435 shares of the company’s stock valued at $28,000 after buying an additional 208 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Everus Construction Group during the 4th quarter valued at approximately $28,000. Bessemer Group Inc. lifted its holdings in Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Everus Construction Group in the fourth quarter worth approximately $30,000.

Analyst Upgrades and Downgrades

ECG has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research note on Thursday, January 22nd. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of Everus Construction Group in a research report on Thursday, November 6th. Wall Street Zen raised Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald began coverage on shares of Everus Construction Group in a research note on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price target on the stock. Finally, Guggenheim started coverage on shares of Everus Construction Group in a report on Thursday, January 22nd. They issued a “neutral” rating for the company. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Everus Construction Group presently has a consensus rating of “Hold” and a consensus price target of $102.75.

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.