Everus Construction Group (NYSE:ECG) Sets New 52-Week Low After Analyst Downgrade

Shares of Everus Construction Group, Inc. (NYSE:ECG) hit a new 52-week low on Thursday after Oppenheimer lowered their price target on the stock from $200.00 to $170.00. Oppenheimer currently has an outperform rating on the stock. Everus Construction Group traded as low as $76.68 and last traded at $76.0950, with a volume of 4,344 shares changing hands. The stock had previously closed at $79.71.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Zacks Research lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Guggenheim increased their price target on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald decreased their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.50.

Insider Activity at Everus Construction Group

In other Everus Construction Group news, Director David Sparby acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought 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. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ECG. Parallel Advisors LLC raised its stake in shares of Everus Construction Group by 6.7% in the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $142,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC grew its stake in Everus Construction Group by 5.2% in the third quarter. GAMMA Investing LLC now owns 2,119 shares of the company’s stock valued at $249,000 after purchasing an additional 105 shares in the last quarter. Versant Capital Management Inc raised its stake in Everus Construction Group by 48.9% in the 3rd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $39,000 after acquiring an additional 110 shares during the period. TD Waterhouse Canada Inc. increased its position 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 during the period. Finally, Signaturefd LLC raised its position in Everus Construction Group by 24.1% during the third quarter. Signaturefd LLC now owns 855 shares of the company’s stock valued at $100,000 after purchasing an additional 166 shares in the last quarter.

Everus Construction Group Stock Performance

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The company has a market capitalization of $3.90 billion, a P/E ratio of 13.50 and a beta of 2.36. The company has a fifty day moving average price of $111.47 and a two-hundred day moving average price of $125.21.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.19 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 EPS. Equities analysts forecast that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

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.