Everus Construction Group (NYSE:ECG) Stock Rating Lowered by Freedom Capital

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

Several other research firms have also commented on ECG. Weiss Ratings reissued a “hold (c)” rating on shares of Everus Construction Group in a research note on Tuesday, April 21st. Cantor Fitzgerald initiated coverage on Everus Construction Group in a research note on Friday, January 23rd. They issued a “neutral” rating and a $97.00 price objective for the company. DA Davidson reiterated a “neutral” rating and issued a $102.00 target price on shares of Everus Construction Group in a research report on Wednesday, February 25th. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Oppenheimer raised their price target on shares of Everus Construction Group from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Everus Construction Group presently has a consensus rating of “Hold” and an average target price of $138.83.

Everus Construction Group Trading Down 6.5%

Shares of NYSE:ECG opened at $158.18 on Wednesday. The company has a 50 day moving average of $125.94 and a 200-day moving average of $103.97. The firm has a market cap of $8.07 billion, a P/E ratio of 36.28 and a beta of 2.55. Everus Construction Group has a twelve month low of $47.12 and a twelve month high of $171.58. The company has a current ratio of 1.77, a quick ratio of 1.70 and a debt-to-equity ratio of 0.38.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. The company 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 business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. As a group, analysts anticipate that Everus Construction Group will post 4.1 earnings per share for the current fiscal year.

Institutional Trading of Everus Construction Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its position in Everus Construction Group by 39.7% in the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after acquiring an additional 856,912 shares during the period. Capital International Investors bought a new position in shares of Everus Construction Group in the 3rd quarter valued at about $165,993,000. Invesco Ltd. boosted its position in shares of Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after purchasing an additional 832,389 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Everus Construction Group by 5.7% during the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock worth $85,821,000 after purchasing an additional 72,775 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Everus Construction Group by 147,209.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock valued at $107,889,000 after purchasing an additional 1,260,117 shares in the last quarter.

About Everus Construction Group

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.