Everus Construction Group (NYSE:ECG) Sets New 52-Week Low - Time to Sell?

Key Points

• Everus Construction Group hit a new 52-week low, trading as low as $76.68 and last at $76.095, down from its prior close of $79.71.
• The company reported quarterly EPS of $1.79 versus $1.31 expected and revenue of $1.38 billion versus $1.19 billion expected; revenue rose 40.3% year over year.
• Analysts maintain a “Moderate Buy” consensus with a $169.50 average price target, though recent opinions range from strong-buy upgrades to hold ratings and a price-target cut.

Shares of Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $76.68 and last traded at $76.0950, with a volume of 4,344 shares changing hands. The stock had previously closed at $79.71.

Wall Street Analysts Forecast Growth

ECG has been the topic of several recent analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Weiss Ratings raised Everus Construction Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Cantor Fitzgerald cut their price objective on Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $169.50.

Everus Construction Group Trading Down 7.2%

The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company's fifty day simple moving average is $113.36 and its two-hundred day simple moving average is $125.39. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 13.14 and a beta of 2.36.

Everus Construction Group (NYSE:ECG - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.31 by $0.48. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.19 billion. Everus Construction Group had a net margin of 6.20% and a return on equity of 41.54%. The company's revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. Research analysts forecast that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Everus Construction Group

In related news, Director David Sparby purchased 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director owned 19,658 shares of the company's stock, valued at $2,849,427.10. This represents a 5.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Sanderson sold 3,300 shares of Everus Construction Group 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 transaction, the vice president directly owned 18,950 shares in the company, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in shares of Everus Construction Group during the third quarter worth $25,000. Global Retirement Partners LLC purchased a new position in Everus Construction Group during the second quarter worth approximately $28,000. TD Waterhouse Canada Inc. raised its position in Everus Construction Group by 82.8% during the third quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company's stock worth $33,000 after acquiring an additional 125 shares during the period. Signature Equity Partners LLC acquired a new stake in shares of Everus Construction Group in the third quarter valued at about $35,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Everus Construction Group in the 2nd quarter valued at approximately $36,000.

About Everus Construction Group

Everus Construction Group, Inc NYSE: ECG is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.

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