Everest Group (NYSE:EG) Rating Increased to Hold at Zacks Research

Everest Group (NYSE:EG) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating on shares of Everest Group in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. TD Cowen reduced their target price on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a report on Monday, December 15th. Finally, Wells Fargo & Company dropped their price target on Everest Group from $343.00 to $332.00 and set an “equal weight” rating for the company in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $367.00.

Everest Group Price Performance

NYSE:EG opened at $319.93 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $324.58 and a 200 day simple moving average of $333.90. Everest Group has a 1-year low of $302.44 and a 1-year high of $373.23. The stock has a market capitalization of $13.43 billion, a PE ratio of 24.37, a P/E/G ratio of 0.23 and a beta of 0.38.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The firm had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period last year, the business earned $11.80 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, research analysts expect that Everest Group will post 47.93 EPS for the current fiscal year.

Insider Buying and Selling at Everest Group

In related news, Director William F. Galtney, Jr. acquired 11,385 shares of the stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the transaction, the director directly owned 45,491 shares of the company’s stock, valued at $13,983,023.58. The trade was a 33.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allan Levine bought 3,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $306.08 per share, with a total value of $948,848.00. Following the transaction, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after acquiring an additional 90 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Everest Group by 1.0% during the first quarter. Voya Investment Management LLC now owns 19,091 shares of the company’s stock valued at $6,936,000 after buying an additional 196 shares during the last quarter. Parallel Advisors LLC grew its holdings in Everest Group by 20.9% during the second quarter. Parallel Advisors LLC now owns 659 shares of the company’s stock worth $224,000 after buying an additional 114 shares in the last quarter. Czech National Bank raised its position in Everest Group by 5.3% in the 2nd quarter. Czech National Bank now owns 10,397 shares of the company’s stock valued at $3,533,000 after buying an additional 526 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in Everest Group during the 2nd quarter valued at $740,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Company Profile

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.