Cantor Fitzgerald Issues Pessimistic Forecast for Everus Construction Group (NYSE:ECG) Stock Price

Key Points

• Cantor Fitzgerald cut its Everus Construction Group price target from $152 to $123 and maintained a neutral rating; the new target implies 45.52% upside from the stock’s current price.
• Analyst sentiment is more positive overall: MarketBeat reports a “Moderate Buy” consensus and an average target of $159.67, with two Strong Buy, four Buy, and three Hold ratings.
• Everus reported quarterly EPS of $1.79, beating the $1.31 estimate, while revenue rose 40.3% year over year to $1.38 billion.

Everus Construction Group (NYSE:ECG - Get Free Report) had its price target decreased by investment analysts at Cantor Fitzgerald from $152.00 to $123.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 45.52% from the stock's current price.

A number of other research analysts have also weighed in on ECG. Freedom Capital raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Zacks Research raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Friday. Weiss Ratings raised shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Everus Construction Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Guggenheim boosted 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 equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

Everus Construction Group Stock Up 10.3%

Shares of NYSE ECG opened at $84.53 on Tuesday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 14.96 and a beta of 2.36. The company's 50-day simple moving average is $110.85 and its 200-day simple moving average is $125.16. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.63. Everus Construction Group has a 52-week low of $70.44 and a 52-week high of $171.58.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.48. Everus Construction Group had a net margin of 6.20% and a return on equity of 39.18%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The company's revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts predict that Everus Construction Group will post 5.55 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 business's stock in a transaction dated Monday, August 17th. The shares were acquired 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 owned 19,658 shares of the company's stock, valued at $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Everus Construction Group

Several large investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in shares of Everus Construction Group by 28.8% in the 3rd quarter. HighTower Advisors LLC now owns 11,541 shares of the company's stock valued at $1,356,000 after buying an additional 2,581 shares during the period. Virtus Advisers LLC increased its stake in shares of Everus Construction Group by 74.7% during the third quarter. Virtus Advisers LLC now owns 11,554 shares of the company's stock worth $1,358,000 after buying an additional 4,942 shares during the period. Russell Investments Group Ltd. raised its holdings in Everus Construction Group by 5.4% in the third quarter. Russell Investments Group Ltd. now owns 98,562 shares of the company's stock valued at $11,583,000 after acquiring an additional 5,080 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Everus Construction Group by 39.8% in the third quarter. Maryland State Retirement & Pension System now owns 13,948 shares of the company's stock valued at $1,639,000 after acquiring an additional 3,971 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Everus Construction Group by 24.5% in the third quarter. Ritholtz Wealth Management now owns 2,720 shares of the company's stock valued at $320,000 after acquiring an additional 535 shares in the last quarter.

About Everus Construction Group

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.

Everus is headquartered in Bismarck, North Dakota, and serves customers across the United States, with operations concentrated in the central and western regions.

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