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

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

Several other equities research analysts have also recently weighed in on the stock. DA Davidson assumed coverage on shares of Everus Construction Group in a research report on Friday, August 21st. They issued a “buy” rating and a $168.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $200.00 price objective on shares of Everus Construction Group in a research report on Thursday, August 6th. Cantor Fitzgerald dropped their price objective on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Everus Construction Group currently has an average rating of “Moderate Buy” and an average target price of $169.50.

Everus Construction Group Price Performance

NYSE:ECG opened at $121.40 on Tuesday. The business’s 50-day moving average is $137.83 and its 200 day moving average is $133.29. Everus Construction Group has a 12 month low of $73.00 and a 12 month high of $171.58. The company has a market capitalization of $6.20 billion, a P/E ratio of 24.43 and a beta of 2.37. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. On average, equities research analysts forecast that Everus Construction Group will post 5.25 earnings per share for the current fiscal year.

Insider Activity at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the completion of the sale, the vice president owned 18,950 shares in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Sparby bought 1,000 shares of the stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director directly owned 19,658 shares in the company, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Everus Construction Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Everus Construction Group by 126.0% during the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after purchasing an additional 121 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Everus Construction Group during the 2nd quarter valued at $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Everus Construction Group during the 2nd quarter valued at $36,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Everus Construction Group in the 2nd quarter worth $39,000.

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.