Everus Construction Group (NYSE:ECG) Stock Rating Upgraded by DA Davidson

Key Points

• DA Davidson upgraded Everus Construction Group to “strong buy,” while analysts maintain a consensus “Moderate Buy” rating with an average price target of $169.50.
• Everus exceeded quarterly expectations, reporting $1.64 in EPS versus $1.14 expected and $1.23 billion in revenue versus $1.08 billion forecast; revenue rose 33.7% year over year.
• The stock opened at $125.91, below its $139.89 50-day moving average and $132.34 200-day average. Insider activity was mixed, with a vice president selling shares and a director purchasing $144,950 worth of stock.

Everus Construction Group (NYSE:ECG - Get Free Report) was upgraded by DA Davidson to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research report on Friday, May 8th. Guggenheim boosted their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Cantor Fitzgerald reduced 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. Zacks Research downgraded shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.50.

Everus Construction Group Price Performance

Shares of NYSE ECG opened at $125.91 on Friday. Everus Construction Group has a 1-year low of $73.00 and a 1-year high of $171.58. The business has a 50-day moving average of $139.89 and a 200-day moving average of $132.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 25.33 and a beta of 2.37.

Everus Construction Group (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (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 analyst estimates of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities analysts anticipate that Everus Construction Group will post 5.23 EPS for the current fiscal year.

Insider Activity

In related news, VP Paul R. Sanderson sold 3,300 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the sale, the vice president directly owned 18,950 shares of the company's stock, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David M. Sparby purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. This represents a 5.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Everus Construction Group

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its position in shares of Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock valued at $151,225,000 after buying an additional 670,646 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Everus Construction Group by 9,475.7% in the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company's stock worth $3,855,000 after acquiring an additional 32,312 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Everus Construction Group by 120.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company's stock worth $4,404,000 after acquiring an additional 28,164 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Everus Construction Group during the fourth quarter valued at approximately $924,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in shares of Everus Construction Group during the fourth quarter valued at approximately $393,000.

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. Everus Construction Group is based in BISMARCK, N.D.

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