Freedom Capital Upgrades Everus Construction Group (NYSE:ECG) to Strong-Buy

Everus Construction Group (NYSE:ECG) was upgraded by equities researchers at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Guggenheim raised their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. Cantor Fitzgerald boosted their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Oppenheimer restated an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a research note on Thursday. Finally, Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Everus Construction Group has a consensus rating of “Moderate Buy” and an average price target of $162.17.

Everus Construction Group Trading Down 1.0%

Shares of ECG opened at $139.38 on Thursday. The company has a market capitalization of $7.11 billion, a P/E ratio of 28.04 and a beta of 2.37. Everus Construction Group has a one year low of $69.61 and a one year high of $171.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.59. The stock has a 50-day moving average price of $142.97 and a 200 day moving average price of $129.37.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.50. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $1.03 EPS. Everus Construction Group’s revenue for the quarter was up 33.7% compared to the same quarter last year. Sell-side analysts forecast that Everus Construction Group will post 4.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Everus Construction Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Everus Construction Group during the second quarter worth about $28,000. Bank of New York Mellon Corp bought a new stake in Everus Construction Group in the 2nd quarter valued at about $46,211,000. Focus Partners Advisor Solutions LLC acquired a new position in Everus Construction Group during the 2nd quarter valued at about $987,000. State of Wyoming acquired a new position in Everus Construction Group during the 2nd quarter valued at about $325,000. Finally, GSA Capital Partners LLP bought a new position in Everus Construction Group in the 2nd quarter worth about $1,036,000.

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.