Bank of America Raises Everest Group (NYSE:EG) Price Target to $454.00

Key Points

• Bank of America raised its price target on Everest Group to $454.00 (from $430) and keeps a Buy rating, implying roughly a 33.5% upside from the prior close.
• Despite that upgrade, analyst coverage is mixed with six Buy and ten Hold ratings, leaving the consensus at a Hold and an average target price of $364.14.
• Shares traded at $340.03 (up ~2%) with a $13.73B market cap and a PE of 8.98; last quarter reported EPS of $13.26 (slightly missing estimates) while revenue of $4.42B beat expectations, and institutional investors own about 92.6% of the stock.

Everest Group (NYSE:EG - Get Free Report) had its target price hoisted by stock analysts at Bank of America from $430.00 to $454.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 33.52% from the stock's previous close.

A number of other analysts have also issued reports on the company. Barclays lifted their target price on Everest Group from $377.00 to $380.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Zacks Research raised Everest Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Cantor Fitzgerald lowered their price objective on Everest Group from $348.00 to $344.00 and set a "neutral" rating for the company in a report on Wednesday, January 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a report on Thursday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on Everest Group from $310.00 to $304.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Everest Group currently has an average rating of "Hold" and an average target price of $364.14.

Everest Group Stock Up 2.0%

Shares of NYSE EG traded up $6.60 during midday trading on Tuesday, reaching $340.03. 168,096 shares of the company's stock were exchanged, compared to its average volume of 357,795. Everest Group has a 52-week low of $302.44 and a 52-week high of $368.29. The stock has a market capitalization of $13.73 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.24 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The business's fifty day moving average price is $329.94 and its two-hundred day moving average price is $330.03.

Everest Group (NYSE:EG - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $13.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the firm posted ($18.39) earnings per share. The firm's revenue was down 4.6% compared to the same quarter last year. Analysts forecast that Everest Group will post 47.93 EPS for the current year.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently made changes to their positions in the stock. Darwin Wealth Management LLC grew its holdings in shares of Everest Group by 6.2% during the third quarter. Darwin Wealth Management LLC now owns 568 shares of the company's stock valued at $199,000 after purchasing an additional 33 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Everest Group by 2.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company's stock valued at $571,000 after purchasing an additional 34 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Everest Group by 3.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company's stock valued at $364,000 after purchasing an additional 34 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Everest Group by 27.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 171 shares of the company's stock worth $58,000 after buying an additional 37 shares during the period. Finally, Trail Ridge Investment Advisors LLC boosted its position in shares of Everest Group by 3.3% during the third quarter. Trail Ridge Investment Advisors LLC now owns 1,236 shares of the company's stock worth $433,000 after buying an additional 40 shares during the period. 92.64% of the stock is owned by institutional investors.

About Everest Group

Everest Group NYSE: EG is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.

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