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

Key Points

• Oppenheimer cut its price target on Everus Construction Group from $200 to $170 but maintained an “outperform” rating; the revised target implies 134.74% upside from the prior close.
• Analyst views remain broadly positive: the stock carries a “Moderate Buy” consensus rating and an average target of $164.50, though some firms have downgraded or reduced their targets.
• Everus beat quarterly estimates, reporting EPS of $1.79 versus $1.31 expected and revenue of $1.38 billion versus $1.19 billion expected; revenue rose 40.3% year over year. Shares traded at $72.42 on Thursday, near their 12-month low.

Everus Construction Group (NYSE:ECG - Get Free Report) had its price objective decreased by equities research analysts at Oppenheimer from $200.00 to $170.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 134.74% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on ECG. Guggenheim lifted their price target on Everus Construction Group from $160.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, August 6th. DA Davidson began coverage on Everus Construction Group in a report on Friday, August 21st. They issued a "buy" rating and a $168.00 price objective for the company. Zacks Research cut Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reduced their price target on Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating for the company in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Everus Construction Group has an average rating of "Moderate Buy" and a consensus target price of $164.50.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock traded down $7.29 during trading on Thursday, hitting $72.42. 710,225 shares of the stock were exchanged, compared to its average volume of 629,076. The stock's fifty day moving average is $113.36 and its 200 day moving average is $125.39. The stock has a market cap of $3.70 billion, a PE ratio of 12.82 and a beta of 2.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. Everus Construction Group has a 12 month low of $70.44 and a 12 month high of $171.58.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.19 billion. Everus Construction Group had a net margin of 6.20% and a return on equity of 41.54%. Everus Construction Group's quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. As a group, sell-side analysts anticipate that Everus Construction Group will post 5.25 EPS for the current year.

Insider Transactions at Everus Construction Group

In related news, Director David Sparby purchased 1,000 shares of Everus Construction Group stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $144.95 per share, with a total value of $144,950.00. Following the purchase, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Sanderson sold 3,300 shares of the company'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 transaction of $451,077.00. Following the completion of the sale, the vice president directly owned 18,950 shares of the company's stock, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Everus Construction Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in Everus Construction Group during the 3rd quarter worth $1,467,000. Fulcrum Asset Management LLP bought a new stake in shares of Everus Construction Group in the third quarter worth $40,000. Allspring Global Investments Holdings LLC grew its stake in Everus Construction Group by 14.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 214,511 shares of the company's stock valued at $25,662,000 after purchasing an additional 27,249 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of Everus Construction Group during the 3rd quarter worth approximately $336,000. Finally, Alps Advisors Inc. boosted its holdings in shares of Everus Construction Group by 23.2% in the 3rd quarter. Alps Advisors Inc. now owns 20,048 shares of the company's stock valued at $2,356,000 after buying an additional 3,770 shares during the last quarter.

Everus Construction Group Company Profile

Everus Construction Group, Inc NYSE: ECG is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.

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