Everus Construction Group (NYSE:ECG) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Everus Construction Group (NYSE:ECG) from a buy rating to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Cantor Fitzgerald decreased 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. Oppenheimer decreased their price objective on shares of Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Everus Construction Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.50.

Everus Construction Group Trading Up 5.3%

NYSE ECG opened at $76.29 on Friday. The stock has a market cap of $3.90 billion, a P/E ratio of 13.50 and a beta of 2.36. Everus Construction Group has a fifty-two week low of $70.44 and a fifty-two week high of $171.58. The stock has a 50 day simple moving average of $111.47 and a two-hundred day simple moving average of $125.21. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.53 and a current ratio of 1.53.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.48. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Everus Construction Group had a return on equity of 39.18% and a net margin of 6.20%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, analysts forecast that Everus Construction Group will post 5.55 earnings per share for the current year.

Insider Activity

In other news, Director David Sparby bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Everus Construction Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECG. BlackRock Inc. purchased a new position in Everus Construction Group during the second quarter valued at $1,094,243,000. First Trust Advisors LP boosted its holdings in shares of Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after buying an additional 670,646 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Everus Construction Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,105,056 shares of the company’s stock valued at $130,431,000 after buying an additional 10,760 shares in the last quarter. De Lisle Partners LLP purchased a new stake in shares of Everus Construction Group in the 2nd quarter worth about $59,936,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Everus Construction Group in the 2nd quarter worth about $46,211,000.

Everus Construction Group Company Profile

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.