Everus Construction Group (NYSE:ECG) Sets New 1-Year Low After Analyst Downgrade

Shares of Everus Construction Group, Inc. (NYSE:ECG) reached a new 52-week low on Thursday after Oppenheimer lowered their price target on the stock from $200.00 to $170.00. Oppenheimer currently has an outperform rating on the stock. Everus Construction Group traded as low as $76.68 and last traded at $76.0950, with a volume of 4,344 shares. The stock had previously closed at $79.71.

Several other equities analysts have also issued reports on the stock. DA Davidson initiated coverage on shares of Everus Construction Group in a report on Friday, August 21st. They issued a “buy” rating and a $168.00 target price on the stock. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Guggenheim upped their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald dropped their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.50.

Insider Buying and Selling

In other news, Director David Sparby bought 1,000 shares of Everus Construction Group stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director directly owned 19,658 shares in the company, valued at $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of Everus Construction Group

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Everus Construction Group in the 2nd quarter worth approximately $1,094,243,000. First Trust Advisors LP increased its holdings in Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after purchasing an additional 670,646 shares in the last quarter. De Lisle Partners LLP purchased a new stake in shares of Everus Construction Group during the 2nd quarter valued at $59,936,000. Bank of New York Mellon Corp bought a new position in shares of Everus Construction Group in the second quarter worth approximately $46,211,000. Finally, Bank of America Corp DE bought a new stake in shares of Everus Construction Group during the 2nd quarter valued at about $39,784,000.

Everus Construction Group Price Performance

The stock has a market capitalization of $3.90 billion, a P/E ratio of 13.50 and a beta of 2.36. The firm has a fifty day moving average price of $111.47 and a two-hundred day moving average price of $125.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.19 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%. Everus Construction Group’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 EPS. As a group, analysts expect that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

About Everus Construction Group

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.