Everforth (NYSE:EFOR) Stock Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• Everforth shares fell below their 50-day moving average of $34.92, reaching $34.01 and last trading at $34.12.
• Analyst views are mixed: the consensus rating is “Reduce”, with an average price target of $33.83; ratings include one Buy, five Holds, and two Sells.
• Everforth beat quarterly earnings estimates, reporting EPS of $1.11 versus $1.02 expected. Revenue was $1.03 billion, up 2.0% year over year.

Everforth (NYSE:EFOR - Get Free Report)'s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $34.92 and traded as low as $34.01. Everforth shares last traded at $34.12, with a volume of 1,526,088 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EFOR shares. BMO Capital Markets lifted their price objective on Everforth from $30.00 to $41.00 and gave the company a "market perform" rating in a research note on Friday, October 9th. Truist Financial increased their target price on shares of Everforth from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. Zacks Research lowered shares of Everforth from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. UBS Group lifted their price target on shares of Everforth from $17.00 to $19.00 and gave the company a "sell" rating in a research report on Thursday, October 29th. Finally, Wall Street Zen raised shares of Everforth from a "hold" rating to a "buy" rating in a research report on Saturday. One 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. Based on data from MarketBeat.com, Everforth presently has a consensus rating of "Reduce" and an average price target of $33.83.

Everforth Stock Performance

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.93 and a beta of 0.42. The firm's fifty day moving average price is $34.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.13 and a quick ratio of 2.13.

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

Hedge Funds Weigh In On Everforth

Several hedge funds and other institutional investors have recently modified their holdings of EFOR. Ethic Inc. grew its position in shares of Everforth by 10.8% during the third quarter. Ethic Inc. now owns 11,207 shares of the company's stock worth $369,000 after acquiring an additional 1,092 shares during the last quarter. Pictet Asset Management Holding SA bought a new stake in Everforth in the 3rd quarter valued at about $241,000. Finally, Crescent Grove Advisors LLC acquired a new position in Everforth during the 3rd quarter valued at about $408,000. Institutional investors and hedge funds own 95.36% of the company's stock.

About Everforth

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.

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