Everus Construction Group (NYSE:ECG) Stock Price Down 6.5% – Here’s Why

Everus Construction Group, Inc. (NYSE:ECG) shares traded down 6.5% during mid-day trading on Wednesday . The company traded as low as $153.25 and last traded at $155.1690. Approximately 22,634 shares were traded during trading, a decline of 97% from the average session volume of 653,731 shares. The stock had previously closed at $165.95.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Freedom Capital lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Glj Research initiated coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective for the company. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a report on Friday, May 8th. Cantor Fitzgerald raised their target price on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

Everus Construction Group Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38. The firm has a market cap of $7.08 billion, a P/E ratio of 31.83 and a beta of 2.23. The firm has a 50-day simple moving average of $151.81 and a 200-day simple moving average of $121.47.

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

Hedge Funds Weigh In On Everus Construction Group

A number of large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new stake in Everus Construction Group during the fourth quarter valued at approximately $4,431,000. Capital International Investors purchased a new position in Everus Construction Group in the third quarter worth $165,993,000. Steadtrust LLC purchased a new position in Everus Construction Group in the fourth quarter worth $843,000. Range Financial Group LLC purchased a new position in Everus Construction Group in the fourth quarter worth $1,146,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Everus Construction Group during the fourth quarter worth $924,000.

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.