Wall Street Zen Upgrades Everus Construction Group (NYSE:ECG) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Everus Construction Group to “Strong Buy” from “Buy.” Analyst sentiment is mixed overall, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $164.50.
• Everus reported quarterly earnings of $1.79 per share, beating the $1.31 estimate, while revenue of $1.38 billion exceeded expectations of $1.19 billion and rose 40.3% year over year.

Everus Construction Group (NYSE:ECG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the company. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Cantor Fitzgerald decreased their target price 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. Oppenheimer lowered their target price on shares of Everus Construction Group from $200.00 to $170.00 and set an "outperform" rating on the stock in a report on Thursday. Weiss Ratings upgraded shares of Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Finally, DA Davidson started coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They set a "buy" rating and a $168.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $164.50.

Everus Construction Group Trading Up 5.3%

NYSE ECG opened at $76.29 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $111.47 and a 200 day moving average price of $125.21. Everus Construction Group has a 52 week low of $70.44 and a 52 week high of $171.58. The firm has a market cap of $3.90 billion, a PE ratio of 13.50 and a beta of 2.36.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.48. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business earned $1.11 earnings per share. The business's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, sell-side analysts forecast that Everus Construction Group will post 5.25 EPS for the current fiscal year.

Insider Activity

In related news, Director David Sparby purchased 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the acquisition, the director directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everus Construction Group

A number of hedge funds and other institutional investors have recently modified their holdings of ECG. Global Retirement Partners LLC purchased a new stake in Everus Construction Group in the 2nd quarter worth approximately $28,000. Root Financial Partners LLC acquired a new position in shares of Everus Construction Group during the third quarter valued at approximately $25,000. Jones Financial Companies Lllp acquired a new stake in shares of Everus Construction Group in the second quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Everus Construction Group in the second quarter valued at approximately $39,000. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Everus Construction Group by 82.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company's stock worth $33,000 after purchasing an additional 125 shares during the last quarter.

About Everus Construction Group

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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