Everus Construction Group (NYSE:ECG) Cut to Buy at Wall Street Zen

Key Points

• Everus Construction Group has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, impacting investor sentiment.
• Despite the downgrade, analysts from Stifel Nicolaus and Zacks Research have recently set higher target prices for the stock, reflecting ongoing positive outlooks.
• The company reported $921.47 million in revenue for the last quarter, up 31.0% year-over-year, significantly exceeding analyst estimates of $749.12 million.

Everus Construction Group (NYSE:ECG - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

A number of other brokerages have also recently commented on ECG. DA Davidson lifted their price target on Everus Construction Group from $68.00 to $88.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Stifel Nicolaus lifted their price target on Everus Construction Group from $83.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Oppenheimer lifted their price target on Everus Construction Group from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.00.

Everus Construction Group Stock Performance

NYSE:ECG traded up $3.11 during trading on Friday, reaching $81.93. The company's stock had a trading volume of 443,125 shares, compared to its average volume of 382,719. The firm has a market cap of $4.18 billion and a price-to-earnings ratio of 25.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.69 and a current ratio of 1.77. The firm has a 50 day moving average of $74.41 and a 200-day moving average of $57.80. Everus Construction Group has a 12 month low of $31.38 and a 12 month high of $90.00.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.42. Everus Construction Group had a return on equity of 35.83% and a net margin of 5.07%.The company had revenue of $921.47 million during the quarter, compared to the consensus estimate of $749.12 million. The business's revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. Research analysts expect that Everus Construction Group will post 2.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ECG. Tompkins Financial Corp bought a new position in shares of Everus Construction Group during the first quarter valued at $25,000. Geneos Wealth Management Inc. increased its position in Everus Construction Group by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. GAMMA Investing LLC increased its position in Everus Construction Group by 295.6% during the first quarter. GAMMA Investing LLC now owns 720 shares of the company's stock valued at $27,000 after acquiring an additional 538 shares during the last quarter. Signaturefd LLC increased its position in Everus Construction Group by 91.6% during the second quarter. Signaturefd LLC now owns 435 shares of the company's stock valued at $28,000 after acquiring an additional 208 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in Everus Construction Group in the first quarter worth about $31,000.

About Everus Construction Group

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.