Everus Construction Group (NYSE:ECG) Shares Gap Up – Still a Buy?

Shares of Everus Construction Group, Inc. (NYSE:ECG) gapped up before the market opened on Tuesday . The stock had previously closed at $148.83, but opened at $157.03. Everus Construction Group shares last traded at $159.8580, with a volume of 20,001 shares trading hands.

Wall Street Analyst Weigh In

ECG has been the topic of several recent analyst reports. Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research report on Friday, May 8th. Oppenheimer started coverage on Everus Construction Group in a research note on Thursday, May 28th. They set an “outperform” rating and a $185.00 target price on the stock. Glj Research assumed coverage on Everus Construction Group in a research note on Monday, April 20th. They set a “hold” rating and a $141.00 target price on the stock. Finally, Cantor Fitzgerald lifted their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Everus Construction Group has an average rating of “Hold” and an average price target of $155.67.

Everus Construction Group Stock Performance

The business’s fifty day moving average price is $144.36 and its 200-day moving average price is $115.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. The stock has a market cap of $8.04 billion, a PE ratio of 36.13 and a beta of 2.33.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. As a group, equities research analysts forecast that Everus Construction Group, Inc. will post 4.39 EPS for the current fiscal year.

Institutional Trading of Everus Construction Group

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after buying an additional 121 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Everus Construction Group in the fourth quarter worth approximately $28,000. Bessemer Group Inc. boosted its holdings in shares of Everus Construction Group by 68.2% in the third quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after buying an additional 137 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Everus Construction Group in the fourth quarter worth approximately $30,000.

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.