Everus Construction Group (NYSE:ECG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Everus Construction Group (NYSE:ECG) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently commented on ECG. DA Davidson began coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price target on the stock. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Guggenheim raised their price target on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus set a $172.00 price objective on Everus Construction Group in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Everus Construction Group Stock Up 2.8%

ECG stock opened at $121.40 on Tuesday. The stock has a fifty day moving average of $137.83 and a 200-day moving average of $133.29. Everus Construction Group has a fifty-two week low of $73.00 and a fifty-two week high of $171.58. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 24.43 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities research analysts predict that Everus Construction Group will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Everus Construction Group

In other Everus Construction Group news, Director David M. Sparby acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the purchase, the director owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul R. Sanderson sold 3,300 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Everus Construction Group

Several institutional investors and hedge funds have recently modified their holdings of ECG. First Trust Advisors LP raised its position in shares of Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after buying an additional 670,646 shares in the last quarter. Fifth Third Bancorp grew its position in Everus Construction Group by 9,475.7% in the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock worth $3,855,000 after acquiring an additional 32,312 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Everus Construction Group by 120.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after acquiring an additional 28,164 shares in the last quarter. GSA Capital Partners LLP bought a new position in Everus Construction Group in the fourth quarter valued at $924,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in Everus Construction Group in the fourth quarter valued at $393,000.

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.