Everus Construction Group (NYSE:ECG) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Everus Construction Group (NYSE:ECG) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Cantor Fitzgerald boosted their price objective on Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Glj Research began coverage on shares of Everus Construction Group in a report on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Finally, Freedom Capital cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $155.67.

Everus Construction Group Stock Down 8.2%

Shares of NYSE ECG opened at $117.12 on Monday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 26.86 and a beta of 2.23. The firm’s 50 day simple moving average is $145.85 and its two-hundred day simple moving average is $127.30. Everus Construction Group has a one year low of $68.51 and a one year high of $171.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, analysts expect that Everus Construction Group will post 4.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its holdings in shares of Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock valued at $26,000 after buying an additional 121 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Everus Construction Group in the 4th quarter worth about $28,000. Flagship Harbor Advisors LLC bought a new position in shares of Everus Construction Group in the 4th quarter worth about $30,000. Geneos Wealth Management Inc. increased its stake 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 acquiring an additional 198 shares in the last quarter. Finally, McMillan Office Inc. purchased a new position in Everus Construction Group during the 4th quarter valued at about $43,000.

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.