Everus Construction Group, Inc. (NYSE:ECG) Stock Has Average Target Price of $169.50 According to Brokerages

Everus Construction Group, Inc. (NYSE:ECG) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $169.50.

A number of analysts have issued reports on the stock. Guggenheim lifted their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective on shares of Everus Construction Group in a report on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th.

Everus Construction Group Trading Down 3.1%

Everus Construction Group stock opened at $105.36 on Friday. Everus Construction Group has a 1 year low of $78.14 and a 1 year high of $171.58. The firm’s 50 day moving average price is $119.73 and its 200-day moving average price is $134.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The stock has a market cap of $5.38 billion, a P/E ratio of 21.20 and a beta of 2.27.

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

Insider Transactions at Everus Construction Group

In related news, VP Paul Sanderson sold 3,300 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was 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 in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Sparby purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the purchase, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. The trade was a 5.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Everus Construction Group

A number of large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in Everus Construction Group in the second quarter worth about $27,186,000. Fifth Third Bancorp increased its stake in Everus Construction Group by 9,475.7% during the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock worth $3,855,000 after acquiring an additional 32,312 shares during the last quarter. First Trust Advisors LP raised its position in Everus Construction Group by 109.9% during the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after purchasing an additional 670,646 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Everus Construction Group during the second quarter valued at approximately $2,513,000. Finally, California State Teachers Retirement System raised its position in 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 valued at $6,739,000 after purchasing an additional 10,726 shares during the period.

About Everus Construction Group

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.