Everus Construction Group (NYSE:ECG) Hits New 12-Month High – Still a Buy?

Everus Construction Group, Inc. (NYSE:ECG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $137.64 and last traded at $131.8440, with a volume of 2962620 shares changing hands. The stock had previously closed at $104.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a report on Monday, January 26th. Cantor Fitzgerald assumed coverage on shares of Everus Construction Group in a research report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a report on Thursday, January 22nd. Wall Street Zen cut shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.75.

Everus Construction Group Stock Down 1.3%

The firm has a 50 day simple moving average of $95.14 and a two-hundred day simple moving average of $88.69. The stock has a market capitalization of $6.15 billion, a P/E ratio of 30.61 and a beta of 3.84. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.42.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, February 24th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.36. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $879.57 million. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. On average, equities research analysts expect that Everus Construction Group, Inc. will post 2.49 earnings per share for the current year.

Institutional Trading of Everus Construction Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECG. Geneos Wealth Management Inc. lifted its position in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Sound Income Strategies LLC bought a new position in Everus Construction Group during the fourth quarter worth $28,000. Bessemer Group Inc. boosted its position in Everus Construction Group by 68.2% during the third quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Everus Construction Group during the 4th quarter worth about $30,000. Finally, Country Trust Bank acquired a new position in shares of Everus Construction Group in the 2nd quarter valued at about $31,000.

Everus Construction Group Company Profile

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.