Everus Construction Group (NYSE:ECG) Upgraded by Zacks Research to Strong-Buy Rating

Everus Construction Group (NYSE:ECG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

ECG has been the topic of a number of other research reports. DA Davidson started coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target on shares of Everus Construction Group in a research note on Thursday, August 6th. Cantor Fitzgerald lowered their price objective on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Finally, Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $121.40 on Tuesday. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 24.43 and a beta of 2.37. The stock has a fifty day moving average of $137.83 and a 200 day moving average of $133.29. Everus Construction Group has a 52 week low of $73.00 and a 52 week high of $171.58. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts expect that Everus Construction Group will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction of $451,077.00. Following the sale, the vice president owned 18,950 shares of the company’s stock, valued at $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David M. Sparby bought 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the purchase, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This represents a 5.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Everus Construction Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after buying an additional 670,646 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Everus Construction Group by 9,475.7% during the first quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock valued at $3,855,000 after acquiring an additional 32,312 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Everus Construction Group by 120.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after acquiring an additional 28,164 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Everus Construction Group in the 4th quarter worth approximately $924,000. Finally, Jackson Creek Investment Advisors LLC bought a new position in Everus Construction Group in the 4th quarter valued at approximately $393,000.

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.