Everus Construction Group (NYSE:ECG) Hits New 1-Year High on Analyst Upgrade

Shares of Everus Construction Group, Inc. (NYSE:ECG) reached a new 52-week high during trading on Thursday after Guggenheim upgraded the stock from a neutral rating to a buy rating. Guggenheim now has a $160.00 price target on the stock. Everus Construction Group traded as high as $145.83 and last traded at $144.8730, with a volume of 129130 shares trading hands. The stock had previously closed at $134.09.

ECG has been the topic of a number of other reports. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on Everus Construction Group to $153.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Wall Street Zen lowered Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research report on Tuesday, April 21st. Finally, DA Davidson reiterated a “neutral” rating and set a $102.00 price target on shares of Everus Construction Group in a research report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.33.

Hedge Funds Weigh In On Everus Construction Group

Several hedge funds have recently made changes to their positions in ECG. Wasatch Advisors LP purchased a new position in shares of Everus Construction Group during the fourth quarter valued at approximately $184,838,000. Capital International Investors purchased a new position in shares of Everus Construction Group during the third quarter valued at approximately $165,993,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Everus Construction Group by 147,209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock valued at $107,889,000 after buying an additional 1,260,117 shares during the period. Invesco Ltd. increased its stake in shares of Everus Construction Group by 86.4% during the third 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 during the period. Finally, Millennium Management LLC increased its stake in shares of Everus Construction Group by 162.2% during the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after buying an additional 397,268 shares during the period.

Everus Construction Group Stock Performance

The company has a market capitalization of $7.46 billion, a PE ratio of 37.09 and a beta of 2.88. The company has a 50 day moving average of $121.55 and a two-hundred day moving average of $101.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.76 and a quick ratio of 1.70.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.36. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $879.57 million. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. As a group, equities research analysts predict that Everus Construction Group, Inc. will post 4.1 earnings per share for the current year.

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.