Everus Construction Group (NYSE:ECG) Shares Gap Up After Analyst Upgrade

Everus Construction Group, Inc. (NYSE:ECG) shares gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 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.

A number of other research firms also recently issued reports on ECG. Glj Research initiated coverage on shares of Everus Construction Group in a report on Monday, April 20th. They set a “hold” rating and a $141.00 price objective on the stock. Freedom Capital downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald boosted their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

Hedge Funds Weigh In On Everus Construction Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of Everus Construction Group by 6.7% in the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock worth $142,000 after buying an additional 75 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Everus Construction Group by 126.0% in the 1st 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. GAMMA Investing LLC boosted its holdings in shares of Everus Construction Group by 12.6% in the 4th quarter. GAMMA Investing LLC now owns 1,286 shares of the company’s stock worth $110,000 after buying an additional 144 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Everus Construction Group by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company’s stock worth $888,000 after buying an additional 146 shares during the last quarter. Finally, DMKC Advisory Services LLC boosted its holdings in shares of Everus Construction Group by 4.2% in the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock worth $322,000 after buying an additional 150 shares during the last quarter.

Everus Construction Group Trading Up 1.2%

The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $145.59 and a 200 day moving average of $116.48. The firm has a market cap of $7.87 billion, a PE ratio of 35.37 and a beta of 2.32.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.81 by $0.33. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $933.81 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. Everus Construction Group’s revenue for the quarter was up 25.4% on a year-over-year basis. Equities analysts anticipate that Everus Construction Group, Inc. will post 4.39 earnings per share for the current year.

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.