Everus Construction Group, Inc. (NYSE:ECG) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts collectively rate Everus Construction Group “Moderate Buy.” Of nine brokerages, four recommend buying, two strongly recommend buying and three rate the stock as a hold; the average 12-month price target is $169.50.
• Everus reported strong quarterly results, with EPS of $1.64 versus the $1.14 consensus and revenue of $1.23 billion versus $1.08 billion expected. Revenue increased 33.7% year over year.
• ECG shares opened at $115.97, down 0.7%, well below their 52-week high of $171.58. Recent insider activity was mixed, with a director purchasing 1,000 shares while a vice president sold 3,300 shares.

Shares of Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $169.50.

ECG has been the subject of several research analyst reports. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. DA Davidson started coverage on Everus Construction Group in a report on Friday, August 21st. They issued a "buy" rating and a $168.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut Everus Construction Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, September 9th.

Everus Construction Group Stock Down 0.7%

Everus Construction Group stock opened at $115.97 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. Everus Construction Group has a 1-year low of $77.86 and a 1-year high of $171.58. The firm's fifty day simple moving average is $125.17 and its 200-day simple moving average is $134.19. The company has a market capitalization of $5.92 billion, a P/E ratio of 23.33 and a beta of 2.28.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.50. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. Everus Construction Group's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Sell-side analysts forecast that Everus Construction Group will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Everus Construction Group

In other Everus Construction Group news, VP Paul Sanderson sold 3,300 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $136.69, for a total value 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 $2,590,275.50. This represents a 14.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Sparby purchased 1,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was bought at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this purchase provides additional information. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Everus Construction Group

A number of institutional investors have recently bought and sold shares of ECG. Parallel Advisors LLC lifted its stake in Everus Construction Group by 6.7% in the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company's stock valued at $142,000 after buying an additional 75 shares during the period. Root Financial Partners LLC grew its position in shares of Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company's stock worth $26,000 after buying an additional 121 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Everus Construction Group during the 2nd quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Everus Construction Group in the 2nd quarter valued at about $36,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Everus Construction Group in the 2nd quarter valued at about $39,000.

About Everus Construction Group

Everus Construction Group, Inc is a U.S.-based specialty contractor that provides electrical and mechanical construction services. The company supports utility, commercial, industrial, institutional, renewable energy and infrastructure customers through the design, installation, maintenance and repair of complex construction systems.

Its electrical capabilities include overhead and underground transmission and distribution, substations, power generation, communications infrastructure and renewable energy projects.

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