Everus Construction Group (NYSE:ECG) Upgraded to Strong-Buy at Zacks Research

Everus Construction Group (NYSE:ECG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald lifted their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Glj Research began coverage on Everus Construction Group in a research report on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Guggenheim upgraded Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Thursday, April 30th. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Oppenheimer assumed coverage on Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.67.

Everus Construction Group Stock Performance

ECG opened at $152.37 on Monday. The company has a market cap of $7.78 billion, a P/E ratio of 34.95 and a beta of 2.32. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $144.92 and its 200-day moving average price is $116.04. Everus Construction Group has a 52-week low of $58.00 and a 52-week high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $933.81 million. During the same period last year, the business earned $0.72 EPS. Everus Construction Group’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts anticipate that Everus Construction Group will post 4.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC boosted its stake in shares of Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after buying an additional 121 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Everus Construction Group in the fourth quarter valued at approximately $28,000. Flagship Harbor Advisors LLC purchased a new stake in Everus Construction Group in the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. boosted its position in Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Finally, McMillan Office Inc. acquired a new stake in shares of Everus Construction Group during the 4th quarter worth approximately $43,000.

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.