Everus Construction Group (NYSE:ECG) Stock Gets Price Target Reduction from Cantor Fitzgerald

by · The Markets Daily

Everus Construction Group (NYSE:ECG – Free Report) had its target price cut by Cantor Fitzgerald from $152.00 to $123.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on the company. DA Davidson started coverage on Everus Construction Group in a research report on Friday, August 21st. They issued a “buy” rating and a $168.00 target price for the company. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Everus Construction Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Oppenheimer lowered their price objective on Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Finally, Guggenheim raised their price objective on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.17.

Check Out Our Latest Stock Analysis on ECG

Everus Construction Group Stock Down 2.0%

Shares of NYSE:ECG opened at $87.29 on Tuesday. Everus Construction Group has a 52-week low of $70.44 and a 52-week high of $171.58. The company has a market capitalization of $4.46 billion, a PE ratio of 15.45 and a beta of 2.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.53. The company has a fifty day moving average of $109.26 and a 200-day moving average of $125.10.

Everus Construction Group (NYSE:ECG – Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.48. The company 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 39.18% and a net margin of 6.20%. Everus Construction Group’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, equities analysts predict that Everus Construction Group will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling at Everus Construction Group

In related news, Director David Sparby acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the acquisition, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its holdings in Everus Construction Group by 38.3% in the third quarter. First Trust Advisors LP now owns 1,338,681 shares of the company’s stock worth $157,322,000 after purchasing an additional 370,995 shares in the last quarter. Whittier Trust Co. lifted its stake in Everus Construction Group by 1.1% in the third quarter. Whittier Trust Co. now owns 48,153 shares of the company’s stock valued at $5,896,000 after buying an additional 502 shares during the period. Advisors Asset Management Inc. acquired a new position in Everus Construction Group in the third quarter valued at approximately $7,095,000. Private Advisor Group LLC lifted its stake in Everus Construction Group by 14.7% in the third quarter. Private Advisor Group LLC now owns 23,049 shares of the company’s stock valued at $2,709,000 after buying an additional 2,952 shares during the period. Finally, Boston Partners bought a new position in shares of Everus Construction Group during the 3rd quarter worth approximately $16,370,000.

Everus Construction Group Company Profile

(Get Free Report)

Everus Construction Group provides construction services for commercial, industrial, institutional and utility customers. Its work includes electrical and mechanical construction, fire protection, and the building and maintenance of infrastructure for energy and utility systems. The company also performs utility and civil construction, including work on electric transmission and distribution lines, underground utilities, pipelines, water and sewer systems, and transportation-related infrastructure.

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