Everus Construction Group (NYSE:ECG) Price Target Lowered to $152.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Everus Construction Group’s price target to $152 from $174 while maintaining a “neutral” rating, implying about 8.4% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average target price of $158.50, despite differing recommendations ranging from Hold to Strong Buy.
• Everus reported strong quarterly results, including $1.64 in EPS versus the $1.14 consensus estimate and $1.23 billion in revenue, up 33.7% year over year and above expectations.

Everus Construction Group (NYSE:ECG - Get Free Report) had its target price lowered by research analysts at Cantor Fitzgerald from $174.00 to $152.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 8.39% from the stock's previous close.

Several other research firms have also issued reports on ECG. Freedom Capital raised shares of Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Zacks Research downgraded Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Guggenheim raised their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus set a $172.00 price target on Everus Construction Group in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $158.50.

Everus Construction Group Stock Up 4.3%

ECG stock opened at $140.23 on Thursday. The company's 50 day moving average price is $141.91 and its 200 day moving average price is $130.59. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 28.22 and a beta of 2.37. Everus Construction Group has a fifty-two week low of $72.43 and a fifty-two week 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 announced its earnings results 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 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%. The business's revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. On average, equities research analysts anticipate that Everus Construction Group will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Everus Construction Group news, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction dated Friday, August 7th. The stock was 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 in the company, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in shares of Everus Construction Group in the second quarter valued at approximately $28,000. Root Financial Partners LLC lifted its holdings in shares of Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company's stock worth $26,000 after purchasing an additional 121 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Everus Construction Group in the 2nd quarter valued at $58,000. Flagship Harbor Advisors LLC acquired a new position in Everus Construction Group during the fourth quarter worth $30,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of 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 buying an additional 198 shares during the last quarter.

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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