Everus Construction Group, Inc. (NYSE:ECG) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Everus Construction Group “Moderate Buy.” Among nine analysts, four recommend buying, two strongly recommend buying, and three advise holding; the average 12-month price target is $169.50.
• Everus exceeded quarterly expectations. The company reported $1.64 in earnings per share versus the $1.14 consensus estimate and revenue of $1.23 billion, up 33.7% year over year and above forecasts.
• The stock recently declined 4.2% to $115.93, well below its 52-week high of $171.58. Insider activity was mixed, while several major institutional investors—including RBC, Goldman Sachs, UBS and Jane Street—expanded their positions.

Shares of Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $169.50.

A number of brokerages recently issued reports on ECG. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. DA Davidson assumed coverage on shares of Everus Construction Group in a research report on Friday, August 21st. They set a "buy" rating and a $168.00 price objective for the company. Zacks Research upgraded shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Cantor Fitzgerald dropped their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th.

Everus Construction Group Trading Down 4.2%

NYSE:ECG opened at $115.93 on Friday. The stock has a 50-day simple moving average of $136.26 and a 200-day simple moving average of $133.34. The stock has a market cap of $5.92 billion, a P/E ratio of 23.33 and a beta of 2.37. Everus Construction Group has a 1 year low of $73.00 and a 1 year high of $171.58. 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 (NYSE:ECG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The business's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. As a group, analysts anticipate that Everus Construction Group will post 5.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David M. Sparby purchased 1,000 shares of Everus Construction Group stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average cost of $144.95 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul R. Sanderson sold 3,300 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the transaction, the vice president 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 disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

Institutional Trading of Everus Construction Group

Several institutional investors and hedge funds have recently made changes to their positions in ECG. Royal Bank of Canada grew its stake in Everus Construction Group by 155.0% during the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company's stock worth $1,811,000 after buying an additional 29,689 shares during the last quarter. Millennium Management LLC increased its position in Everus Construction Group by 42.7% during the first quarter. Millennium Management LLC now owns 244,421 shares of the company's stock worth $9,066,000 after buying an additional 73,128 shares during the period. Goldman Sachs Group Inc. lifted its stake in Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company's stock valued at $6,631,000 after buying an additional 76,252 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Everus Construction Group by 33.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company's stock valued at $5,207,000 after buying an additional 34,868 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company's stock valued at $2,645,000 after acquiring an additional 46,247 shares during the period.

Everus Construction Group Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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