Everus Construction Group (NYSE:ECG) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Everus Construction Group (ECG) from "strong-buy" to "hold," and other analysts' coverage is largely neutral — the MarketBeat consensus rating is "Hold" with a consensus target price of $119.60.
• Everus beat quarterly estimates, reporting $1.08 EPS vs. $0.72 expected and $1.01B revenue vs. $879.6M expected, with revenue up 33% year-over-year and analysts projecting 4.1 EPS for the current year.
• The stock opened at $136.70 (down 2.5%), has a market cap of about $6.98B, a P/E of 34.7, and a 52-week range of $38.51 to $141.54, with 50- and 200-day moving averages at $120.90 and $101.64 respectively.

Everus Construction Group (NYSE:ECG - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Guggenheim assumed coverage on shares of Everus Construction Group in a report on Thursday, January 22nd. They set a "neutral" rating for the company. Weiss Ratings restated a "hold (c)" rating on shares of Everus Construction Group in a report on Tuesday, April 21st. Cantor Fitzgerald assumed coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They issued a "neutral" rating and a $97.00 price target for the company. Finally, DA Davidson reiterated a "neutral" rating and issued a $102.00 price target on shares of Everus Construction Group in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $119.60.

Everus Construction Group Stock Down 2.5%

Shares of NYSE ECG opened at $136.70 on Monday. The stock has a market cap of $6.98 billion, a P/E ratio of 34.70 and a beta of 2.88. The firm has a 50 day moving average price of $120.90 and a 200 day moving average price of $101.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76. Everus Construction Group has a 52-week low of $38.51 and a 52-week high of $141.54.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.36. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $879.57 million. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The business's revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. Analysts expect that Everus Construction Group will post 4.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ECG. Geneos Wealth Management Inc. boosted its holdings in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after buying an additional 198 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company's stock valued at $26,000 after buying an additional 121 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Everus Construction Group in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. boosted its holdings in shares of Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company's stock valued at $29,000 after buying an additional 137 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Everus Construction Group in the fourth quarter valued at approximately $30,000.

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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