Everforth (NYSE:EFOR) Shares Cross Below 50 Day Moving Average - Here's Why

Key Points

• Everforth shares slipped below their 50-day moving average of $35.61 on Friday, trading as low as $35.22 and last changing hands at $35.45.
• The company reported quarterly earnings of $1.11 per share, topping the $1.02 consensus estimate; revenue reached $1.03 billion, up 2% year over year.
• Analysts’ average rating is “Reduce,” with an average price target of $33.83. Recent target changes were mixed, ranging from $38 at Wells Fargo to $45 at Truist.

Everforth (NYSE:EFOR - Get Free Report) shares passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $35.61 and traded as low as $35.22. Everforth shares last traded at $35.45, with a volume of 482,999 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EFOR shares. BMO Capital Markets lifted their target price on Everforth from $30.00 to $41.00 and gave the company a "market perform" rating in a research note on Friday, October 9th. Wells Fargo & Company upped their price target on Everforth from $26.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. Weiss Ratings raised Everforth from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, September 28th. Zacks Research cut Everforth from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Finally, Truist Financial raised their price target on Everforth from $36.00 to $45.00 and gave the company a "buy" rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $33.83.

Everforth Stock Performance

The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.46 billion, a P/E ratio of 21.75 and a beta of 0.42. The firm has a 50-day moving average of $35.61.

Everforth (NYSE:EFOR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.09. Everforth had a net margin of 1.71% and a return on equity of 8.87%. The business had revenue of $1.03 billion for the quarter. The business's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Everforth will post 3.74 EPS for the current fiscal year.

Institutional Trading of Everforth

Several institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners acquired a new position in shares of Everforth in the 3rd quarter valued at $42,521,000. First Trust Advisors LP grew its stake in shares of Everforth by 132.5% during the third quarter. First Trust Advisors LP now owns 375,263 shares of the company's stock worth $12,346,000 after purchasing an additional 213,851 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Everforth by 215.9% during the third quarter. Russell Investments Group Ltd. now owns 221,517 shares of the company's stock worth $7,288,000 after purchasing an additional 151,404 shares during the period. Royce & Associates LP acquired a new stake in shares of Everforth during the third quarter worth $4,613,000. Finally, Fulcrum Asset Management LLP grew its stake in shares of Everforth by 1,272.8% during the third quarter. Fulcrum Asset Management LLP now owns 41,924 shares of the company's stock worth $1,379,000 after purchasing an additional 38,870 shares during the period. Institutional investors own 95.36% of the company's stock.

Everforth Company Profile

Everforth is a technology and digital engineering company that aims to help companies adapt and thrive in a world of constant change. The company combines industry expertise with in-demand solutions with the goal of driving meaningful outcomes for their customers. In order to help commercial and government customers find success, Everforth provides tailored technology solutions that help their clients move faster and innovate with purpose. Their solutions fall into a variety of categories, including AI and Data Analytics, Cloud and Infrastructure, Cybersecurity, and Enterprise Platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.