Everus Construction Group (NYSE:ECG) Stock Bumped Up to “Strong-Buy” by Wall Street Zen

Everus Construction Group (NYSE:ECG) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research analysts also recently commented on the company. DA Davidson began coverage on Everus Construction Group in a research report on Friday, August 21st. They set a “buy” rating and a $168.00 target price for the company. Guggenheim boosted their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald reduced their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Finally, Oppenheimer reduced their target price on Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.50.

Everus Construction Group Trading Up 5.3%

Shares of NYSE:ECG opened at $76.29 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.90 billion, a PE ratio of 13.50 and a beta of 2.36. Everus Construction Group has a fifty-two week low of $70.44 and a fifty-two week high of $171.58. The company’s 50-day moving average price is $111.47 and its 200 day moving average price is $125.21.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.48. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company posted $1.11 EPS. The company’s revenue was up 40.3% compared to the same quarter last year. Sell-side analysts anticipate that Everus Construction Group will post 5.25 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Sparby purchased 1,000 shares of Everus Construction Group stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director owned 19,658 shares in the company, valued at $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Everus Construction Group by 6.7% during the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock worth $142,000 after buying an additional 75 shares in the last quarter. GAMMA Investing LLC raised its stake in Everus Construction Group by 5.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,119 shares of the company’s stock valued at $249,000 after purchasing an additional 105 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Everus Construction Group by 48.9% during the third quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $39,000 after purchasing an additional 110 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Everus Construction Group by 82.8% during the third quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Everus Construction Group by 24.1% during the third quarter. Signaturefd LLC now owns 855 shares of the company’s stock worth $100,000 after purchasing an additional 166 shares in the last quarter.

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.