Guggenheim Upgrades Everus Construction Group (NYSE:ECG) to “Buy”

Everus Construction Group (NYSE:ECG) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The firm currently has a $160.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 7.28% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Glj Research assumed coverage on Everus Construction Group in a report on Monday, April 20th. They set a “hold” rating and a $141.00 price target for the company. DA Davidson restated a “neutral” rating and set a $102.00 price target on shares of Everus Construction Group in a report on Wednesday, February 25th. Wall Street Zen cut Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Stifel Nicolaus raised their price target on Everus Construction Group to $153.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Everus Construction Group presently has a consensus rating of “Hold” and a consensus price target of $126.33.

Everus Construction Group Stock Performance

NYSE:ECG opened at $149.15 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. Everus Construction Group has a 12-month low of $43.25 and a 12-month high of $149.88. The stock has a 50-day moving average price of $122.41 and a 200 day moving average price of $102.18. The stock has a market capitalization of $7.61 billion, a P/E ratio of 37.85 and a beta of 2.56.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.36. Everus Construction Group had a return on equity of 37.06% and a net margin of 5.39%.The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $879.57 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 33.0% on a year-over-year basis. Equities research analysts forecast that Everus Construction Group will post 4.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB purchased a new position in shares of Everus Construction Group in the 4th quarter worth approximately $4,431,000. Capital International Investors purchased a new position in shares of Everus Construction Group in the 3rd quarter worth approximately $165,993,000. Range Financial Group LLC bought a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $1,146,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Everus Construction Group by 1,049.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company’s stock worth $5,209,000 after acquiring an additional 55,463 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Everus Construction Group by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company’s stock worth $17,063,000 after acquiring an additional 25,140 shares during the last quarter.

About Everus Construction Group

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.