Zacks Research Downgrades Everus Construction Group (NYSE:ECG) to Hold

Everus Construction Group (NYSE:ECG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Wall Street Zen raised Everus Construction Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their target price on shares of Everus Construction Group from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Everus Construction Group in a research note on Thursday, November 6th. DA Davidson set a $102.00 price objective on shares of Everus Construction Group in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.33.

Everus Construction Group Trading Down 3.7%

Shares of NYSE:ECG opened at $88.33 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $90.47 and its 200 day moving average price is $81.23. The company has a market cap of $4.51 billion, a PE ratio of 25.02 and a beta of 3.84. Everus Construction Group has a fifty-two week low of $31.38 and a fifty-two week high of $103.08.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.62 by $0.49. The company had revenue of $986.82 million for the quarter, compared to analyst estimates of $830.60 million. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. Everus Construction Group’s revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. Sell-side analysts anticipate that Everus Construction Group will post 2.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its stake in Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after acquiring an additional 137 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Everus Construction Group during the third quarter worth approximately $33,000. Signaturefd LLC grew its position in Everus Construction Group by 91.6% during the second quarter. Signaturefd LLC now owns 435 shares of the company’s stock valued at $28,000 after purchasing an additional 208 shares in the last quarter. Finally, Country Trust Bank acquired a new position in Everus Construction Group in the 2nd quarter valued at approximately $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.