Everus Construction Group (NYSE:ECG) Stock Price Down 9.1% – Should You Sell?

by · The Markets Daily

Everus Construction Group, Inc. (NYSE:ECG – Get Free Report) shares dropped 9.1% during mid-day trading on Friday . The company traded as low as $93.17 and last traded at $92.0330. Approximately 173,984 shares traded hands during trading, a decline of 71% from the average daily volume of 591,298 shares. The stock had previously closed at $101.21.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ECG. DA Davidson set a $102.00 price objective on shares of Everus Construction Group in a report on Thursday, November 6th. Stifel Nicolaus boosted their target price on shares of Everus Construction Group from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everus Construction Group in a report on Wednesday, October 8th. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of Everus Construction Group in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Everus Construction Group has an average rating of “Moderate Buy” and a consensus target price of $100.33.

Get Our Latest Stock Analysis on ECG

Everus Construction Group Trading Down 10.9%

The company has a current ratio of 1.76, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.60 billion and a PE ratio of 25.60. The business has a fifty day moving average price of $90.09 and a 200 day moving average price of $77.31.

Everus Construction Group (NYSE:ECG – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.49. Everus Construction Group had a return on equity of 36.74% and a net margin of 5.18%.The firm had revenue of $986.82 million during the quarter, compared to the consensus estimate of $830.60 million. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. Analysts forecast that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Institutional Trading of Everus Construction Group

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Everus Construction Group by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 442,074 shares of the company’s stock worth $16,397,000 after buying an additional 30,961 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of Everus Construction Group during the first quarter worth approximately $275,000. Invesco Ltd. increased its holdings in shares of Everus Construction Group by 7.8% in the 1st quarter. Invesco Ltd. now owns 1,071,118 shares of the company’s stock valued at $39,728,000 after acquiring an additional 77,396 shares during the period. Nuveen LLC purchased a new stake in Everus Construction Group in the 1st quarter valued at $4,330,000. Finally, Public Sector Pension Investment Board grew its position in Everus Construction Group by 27.4% during the 1st quarter. Public Sector Pension Investment Board now owns 161,718 shares of the company’s stock worth $5,998,000 after purchasing an additional 34,761 shares during the last quarter.

Everus Construction Group Company Profile

(Get Free Report)

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.

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