Everforth (NYSE:EFOR) Shares Cross Below 50 Day Moving Average – Here’s Why

Everforth (NYSE:EFOR) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $35.61 and traded as low as $35.22. Everforth shares last traded at $35.45, with a volume of 482,999 shares traded.

Analyst Upgrades and Downgrades

EFOR has been the subject of several analyst reports. UBS Group boosted their target price on Everforth from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Thursday, October 29th. BMO Capital Markets increased their price target on shares of Everforth from $30.00 to $41.00 and gave the company a “market perform” rating in a research report on Friday, October 9th. Truist Financial increased their price target on shares of Everforth from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Weiss Ratings raised shares of Everforth from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Finally, Zacks Research cut shares of Everforth from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $33.83.

Everforth Trading Down 1.1%

The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.75. The company’s fifty day simple moving average is $35.61. The stock has a market capitalization of $1.46 billion, a P/E ratio of 21.75 and a beta of 0.42.

Everforth (NYSE:EFOR) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.02 by $0.09. The business had revenue of $1.03 billion for the quarter. Everforth had a return on equity of 8.87% and a net margin of 1.71%. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that Everforth will post 3.74 EPS for the current year.

Institutional Investors Weigh In On Everforth

Several large investors have recently modified their holdings of EFOR. Crescent Grove Advisors LLC acquired a new stake in shares of Everforth during the third quarter worth about $408,000. Fulcrum Asset Management LLP lifted its holdings in shares of Everforth by 1,272.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 41,924 shares of the company’s stock valued at $1,379,000 after purchasing an additional 38,870 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Everforth by 132.5% during the 3rd quarter. First Trust Advisors LP now owns 375,263 shares of the company’s stock valued at $12,346,000 after purchasing an additional 213,851 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Everforth during the 3rd quarter valued at about $428,000. Finally, Boston Partners acquired a new position in shares of Everforth in the 3rd quarter valued at approximately $42,521,000. 95.36% of the stock is currently owned by institutional investors.

About Everforth

Everforth is a technology and digital engineering company that aims to help companies adapt and thrive in a world of constant change. The company combines industry expertise with in-demand solutions with the goal of driving meaningful outcomes for their customers. In order to help commercial and government customers find success, Everforth provides tailored technology solutions that help their clients move faster and innovate with purpose. Their solutions fall into a variety of categories, including AI and Data Analytics, Cloud and Infrastructure, Cybersecurity, and Enterprise Platforms.