Northcoast Research Downgrades EMCOR Group (NYSE:EME) to Neutral

Key Points

• EMCOR Group has been downgraded from a "buy" rating to "neutral" by Northcoast Research, with a price objective indicating a potential downside of 19.15% from its current price of $618.41.
• Despite the downgrade, other firms such as Stifel Nicolaus and DA Davidson have raised their price targets, maintaining "buy" ratings on EMCOR Group.
• The company reported impressive financial results, with earnings per share of $6.72, exceeding analyst expectations, and a revenue increase of 17.4% year-over-year.

EMCOR Group (NYSE:EME - Get Free Report) was downgraded by analysts at Northcoast Research from a "buy" rating to a "neutral" rating in a report released on Thursday,Finviz reports. They currently have a $500.00 price objective on the construction company's stock. Northcoast Research's target price would indicate a potential downside of 19.15% from the stock's current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus increased their price target on shares of EMCOR Group from $503.00 to $597.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. DA Davidson increased their price objective on shares of EMCOR Group from $515.00 to $725.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Hovde Group raised shares of EMCOR Group to a "hold" rating in a research note on Friday, June 27th. UBS Group set a $750.00 price objective on shares of EMCOR Group and gave the company a "buy" rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price objective on shares of EMCOR Group from $384.00 to $435.00 and gave the company a "sell" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $594.50.

EMCOR Group Stock Down 0.6%

NYSE EME traded down $3.87 on Thursday, reaching $618.41. The company had a trading volume of 24,433 shares, compared to its average volume of 492,684. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 25.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.18. EMCOR Group has a 1-year low of $320.89 and a 1-year high of $667.64. The company's fifty day moving average is $537.07 and its 200-day moving average is $459.69.

EMCOR Group (NYSE:EME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $6.72 EPS for the quarter, topping the consensus estimate of $5.68 by $1.04. EMCOR Group had a net margin of 7.07% and a return on equity of 38.01%. The firm had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.10 billion. During the same period in the previous year, the firm posted $5.25 EPS. The company's revenue for the quarter was up 17.4% on a year-over-year basis. On average, research analysts forecast that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EMCOR Group

A number of large investors have recently added to or reduced their stakes in EME. Private Trust Co. NA boosted its stake in shares of EMCOR Group by 28.6% during the 1st quarter. Private Trust Co. NA now owns 279 shares of the construction company's stock valued at $103,000 after purchasing an additional 62 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in EMCOR Group by 20.8% in the first quarter. Janney Montgomery Scott LLC now owns 19,796 shares of the construction company's stock worth $7,317,000 after purchasing an additional 3,407 shares during the last quarter. Redwood Investment Management LLC purchased a new stake in EMCOR Group during the fourth quarter valued at approximately $1,417,000. Cambridge Investment Research Advisors Inc. increased its holdings in EMCOR Group by 146.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,700 shares of the construction company's stock valued at $3,955,000 after buying an additional 6,361 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in EMCOR Group by 17.5% during the first quarter. Fifth Third Bancorp now owns 844 shares of the construction company's stock valued at $312,000 after buying an additional 126 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.

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