Everus Construction Group (NYSE:ECG) Hits New 1-Year High on Analyst Upgrade

Key Points

• Guggenheim upgraded Everus Construction Group from neutral to buy with a $160 price target, and the stock hit a new 52-week high of $145.83 on the news.
• The company beat earnings and revenue expectations for the quarter—$1.08 EPS vs. $0.72 expected and $1.01B revenue vs. $879.6M—driving 33% year-over-year revenue growth.
• Analyst coverage is mixed (three Buys, five Holds) giving an average rating of "Hold" and an average price target of $126.33, while several institutional investors have recently initiated or increased positions.

Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) shares reached a new 52-week high on Thursday after Guggenheim upgraded the stock from a neutral rating to a buy rating. Guggenheim now has a $160.00 price target on the stock. Everus Construction Group traded as high as $145.83 and last traded at $144.8730, with a volume of 129130 shares traded. The stock had previously closed at $134.09.

Several other research firms have also weighed in on ECG. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everus Construction Group in a report on Tuesday, April 21st. DA Davidson reissued a "neutral" rating and set a $102.00 price objective on shares of Everus Construction Group in a report on Wednesday, February 25th. Zacks Research lowered shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a report on Monday. Wall Street Zen lowered shares of Everus Construction Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Finally, Cantor Fitzgerald began coverage on shares of Everus Construction Group in a report on Friday, January 23rd. They set a "neutral" rating and a $97.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Everus Construction Group currently has an average rating of "Hold" and an average price target of $126.33.

Institutional Trading of Everus Construction Group

A number of hedge funds have recently modified their holdings of ECG. Nordea Investment Management AB acquired a new stake in Everus Construction Group during the 4th quarter worth approximately $4,431,000. Capital International Investors acquired a new stake in Everus Construction Group during the 3rd quarter worth approximately $165,993,000. Range Financial Group LLC acquired a new stake in Everus Construction Group during the 4th quarter worth approximately $1,146,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Everus Construction Group by 1,049.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company's stock worth $5,209,000 after buying an additional 55,463 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Everus Construction Group by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company's stock worth $17,063,000 after buying an additional 25,140 shares during the period.

Everus Construction Group Stock Up 9.0%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 37.09 and a beta of 2.88. The firm's fifty day simple moving average is $121.55 and its 200 day simple moving average is $101.86.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.36. The company 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 quarterly revenue was up 33.0% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. On average, sell-side analysts forecast that Everus Construction Group, Inc. will post 4.1 earnings per share for the current year.

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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