BMO Capital Markets Forecasts Strong Price Appreciation for Everest Group (NYSE:EG) Stock

Everest Group (NYSE:EG) had its price objective upped by stock analysts at BMO Capital Markets from $366.00 to $376.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 8.11% from the stock’s current price.

Several other equities analysts have also weighed in on EG. Bank of America increased their target price on Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company increased their target price on Everest Group from $332.00 to $356.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Barclays increased their price target on Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Morgan Stanley set a $340.00 price target on Everest Group in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $374.00.

Everest Group Trading Down 1.1%

Shares of EG opened at $347.78 on Thursday. Everest Group has a 12-month low of $302.44 and a 12-month high of $368.29. The stock’s fifty day simple moving average is $334.99 and its 200-day simple moving average is $329.55. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $13.76 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.26 and a beta of 0.35.

Everest Group (NYSE:EG) last released its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The firm had revenue of $4.07 billion for the quarter. As a group, research analysts predict that Everest Group will post 52.71 earnings per share for the current year.

Insider Activity

In other Everest Group news, CEO Jason Keen sold 775 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares in the company, valued at $2,874,532.80. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EG. Geneos Wealth Management Inc. grew its holdings in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Everest Group during the second quarter worth about $384,000. Marshall Wace LLP bought a new position in shares of Everest Group during the second quarter worth about $238,000. Jump Financial LLC bought a new position in shares of Everest Group during the second quarter worth about $1,510,000. Finally, Federated Hermes Inc. grew its holdings in shares of Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock worth $4,898,000 after buying an additional 510 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Company Profile

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.