Everus Construction Group (NYSE:ECG) Price Target Cut to $170.00 by Analysts at Oppenheimer

Everus Construction Group (NYSE:ECG) had its target price reduced by Oppenheimer from $200.00 to $170.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer‘s price objective would indicate a potential upside of 134.74% from the stock’s current price.

Other research analysts also recently issued reports about the company. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Guggenheim raised their price objective 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. DA Davidson assumed coverage on shares of Everus Construction Group in a report on Friday, August 21st. They set a “buy” rating and a $168.00 price target for the company. Finally, Cantor Fitzgerald dropped their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.50.

Everus Construction Group Price Performance

ECG stock traded down $7.29 during trading on Thursday, reaching $72.42. 710,225 shares of the company were exchanged, compared to its average volume of 629,076. The company has a 50-day moving average of $113.36 and a two-hundred day moving average of $125.39. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 12.82 and a beta of 2.36. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. Everus Construction Group has a twelve month low of $70.44 and a twelve month high of $171.58.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.48. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Everus Construction Group had a return on equity of 41.54% and a net margin of 6.20%. Everus Construction Group’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. As a group, equities analysts predict that Everus Construction Group will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Everus Construction Group

In related news, Director David M. Sparby bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the purchase, the director directly owned 19,658 shares in the company, valued at $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul R. Sanderson sold 3,300 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the sale, the vice president owned 18,950 shares of the company’s stock, valued at $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.33% of the company’s stock.

Institutional Trading of Everus Construction Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECG. Root Financial Partners LLC bought a new position in Everus Construction Group in the third quarter worth approximately $25,000. Global Retirement Partners LLC bought a new stake in shares of Everus Construction Group during the second quarter worth about $28,000. TD Waterhouse Canada Inc. lifted its position in Everus Construction Group by 82.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Signature Equity Partners LLC bought a new stake in Everus Construction Group during the 3rd quarter worth approximately $35,000. Finally, Jones Financial Companies Lllp bought a new stake 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.