Everus Construction Group (NYSE:ECG) Rating Increased to Strong-Buy at Freedom Capital

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

A number of other brokerages have also recently weighed in on ECG. Cantor Fitzgerald lifted their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Glj Research assumed coverage on shares of Everus Construction Group in a research report on Monday, April 20th. They issued a “hold” rating and a $141.00 target price for the company. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. Guggenheim raised 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.17.

Everus Construction Group Stock Down 1.0%

Shares of Everus Construction Group stock opened at $139.38 on Thursday. The business’s fifty day moving average price is $142.97 and its two-hundred day moving average price is $129.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.71. 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 1-year low of $69.61 and a 1-year high of $171.58.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, research analysts forecast that Everus Construction Group will post 4.39 EPS for the current year.

Institutional Trading of Everus Construction Group

A number of large investors have recently added to or reduced their stakes in ECG. Royal Bank of Canada grew its position in Everus Construction Group by 155.0% in the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after buying an additional 29,689 shares during the last quarter. Millennium Management LLC lifted its position in shares of Everus Construction Group by 42.7% during the 1st quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock valued at $9,066,000 after acquiring an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Everus Construction Group by 74.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after acquiring an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Everus Construction Group by 33.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock worth $5,207,000 after acquiring an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Everus Construction Group by 184.4% in the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after acquiring an additional 46,247 shares during 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.