Oppenheimer Has Lowered Expectations for Everus Construction Group (NYSE:ECG) Stock Price

Everus Construction Group (NYSE:ECG) had its price objective reduced by investment analysts at Oppenheimer from $200.00 to $170.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer‘s price objective points to a potential upside of 122.83% from the company’s previous close.

A number of other analysts also recently commented on the company. DA Davidson started coverage on Everus Construction Group in a research report on Friday, August 21st. They issued a “buy” rating and a $168.00 price objective for the company. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Guggenheim raised their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Everus Construction Group currently has a consensus rating of “Moderate Buy” and an average target price of $164.50.

Everus Construction Group Stock Performance

Shares of ECG traded up $3.85 during trading hours on Thursday, reaching $76.29. 1,792,409 shares of the company traded hands, compared to its average volume of 587,412. The stock’s fifty day moving average is $111.47 and its 200 day moving average is $125.21. The stock has a market cap of $3.90 billion, a P/E ratio of 13.50 and a beta of 2.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. Everus Construction Group has a 1-year low of $70.44 and a 1-year high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. Equities research analysts anticipate that Everus Construction Group will post 5.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Everus Construction Group news, Director David Sparby purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everus Construction Group

Several large investors have recently modified their holdings of ECG. Root Financial Partners LLC bought a new position in shares of Everus Construction Group during the 3rd quarter worth approximately $25,000. Global Retirement Partners LLC bought a new stake in Everus Construction Group in the second quarter valued at $28,000. TD Waterhouse Canada Inc. raised its stake in Everus Construction Group by 82.8% during the third quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Signature Equity Partners LLC acquired a new position in Everus Construction Group during the third quarter worth $35,000. Finally, Jones Financial Companies Lllp acquired a new position in Everus Construction Group during the second quarter worth $36,000.

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.