Everus Construction Group (NYSE:ECG) Price Target Raised to $70.00 at Oppenheimer

Everus Construction Group (NYSE:ECG) had its price target hoisted by equities researchers at Oppenheimer from $66.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 1.40% from the stock’s previous close.

A number of other brokerages have also issued reports on ECG. DA Davidson raised their price target on shares of Everus Construction Group from $58.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Stifel Nicolaus raised their price target on shares of Everus Construction Group from $71.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 11th.

Everus Construction Group Trading Down 0.2%

Everus Construction Group stock traded down $0.17 during trading hours on Friday, reaching $69.04. The stock had a trading volume of 4,807 shares, compared to its average volume of 658,401. Everus Construction Group has a 52 week low of $31.38 and a 52 week high of $77.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.69. The company has a fifty day simple moving average of $61.01 and a 200-day simple moving average of $53.70.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.29. The business had revenue of $826.63 million for the quarter, compared to analyst estimates of $676.35 million. Everus Construction Group had a net margin of 4.98% and a return on equity of 33.27%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Everus Construction Group will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in shares of Everus Construction Group in the 4th quarter worth about $365,965,000. Westwood Holdings Group Inc. purchased a new stake in shares of Everus Construction Group in the 1st quarter worth about $75,089,000. Dimensional Fund Advisors LP purchased a new stake in shares of Everus Construction Group in the 4th quarter worth about $120,578,000. Alliancebernstein L.P. lifted its position in Everus Construction Group by 58.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company’s stock valued at $47,405,000 after acquiring an additional 470,025 shares during the period. Finally, Invesco Ltd. lifted its position in Everus Construction Group by 7.8% during the 1st quarter. Invesco Ltd. now owns 1,071,118 shares of the company’s stock valued at $39,728,000 after acquiring an additional 77,396 shares during the period.

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.