Everus Construction Group (NYSE:ECG) Coverage Initiated at Oppenheimer

Oppenheimer assumed coverage on shares of Everus Construction Group (NYSE:ECG) in a report released on Thursday. The firm set an “outperform” rating and a $185.00 price target on the stock. Oppenheimer’s price target would suggest a potential upside of 23.57% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Thursday, April 30th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research report on Friday, May 8th. DA Davidson reaffirmed a “neutral” rating and set a $102.00 price target on shares of Everus Construction Group in a research note on Wednesday, February 25th. Finally, Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $155.67.

Everus Construction Group Trading Down 1.2%

Shares of NYSE:ECG traded down $1.77 during midday trading on Thursday, reaching $149.71. The company’s stock had a trading volume of 28,928 shares, compared to its average volume of 656,128. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 34.37 and a beta of 2.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. The firm has a 50 day moving average price of $136.28 and a two-hundred day moving average price of $110.24. Everus Construction Group has a fifty-two week low of $56.10 and a fifty-two week high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The firm’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. As a group, analysts forecast that Everus Construction Group will post 4.39 earnings per share for the current year.

Institutional Investors Weigh In On Everus Construction Group

Several large investors have recently added to or reduced their stakes in ECG. Wasatch Advisors LP boosted its position in Everus Construction Group by 39.7% during the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock worth $356,216,000 after purchasing an additional 856,912 shares during the period. Capital International Investors bought a new stake in shares of Everus Construction Group in the third quarter valued at approximately $165,993,000. Invesco Ltd. lifted its stake in shares of Everus Construction Group by 86.4% during the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after buying an additional 832,389 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Everus Construction Group by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after buying an additional 72,775 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Everus Construction Group by 109.9% in the 1st 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 period.

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.