Everus Construction Group (NYSE:ECG) Stock Price Down 5.3% on Analyst Downgrade

Everus Construction Group, Inc. (NYSE:ECG) dropped 5.3% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $86.18 and last traded at $86.8220. Approximately 74,390 shares traded hands during trading, a decline of 75% from the average daily volume of 302,526 shares. The stock had previously closed at $91.69.

Several other analysts have also recently issued reports on the stock. DA Davidson set a $102.00 target price on Everus Construction Group in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everus Construction Group in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Everus Construction Group in a research report on Thursday, November 6th. Finally, Stifel Nicolaus raised their price target on shares of Everus Construction Group from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $100.33.

Institutional Trading of Everus Construction Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Everus Construction Group by 91.6% during the 2nd quarter. Signaturefd LLC now owns 435 shares of the company’s stock worth $28,000 after acquiring an additional 208 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Everus Construction Group by 68.2% during the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 137 shares during the last quarter. Country Trust Bank acquired a new position in shares of Everus Construction Group during the 2nd quarter valued at about $31,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Everus Construction Group in the 3rd quarter valued at approximately $33,000.

Everus Construction Group Trading Down 1.3%

The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 25.10 and a beta of 3.84. The company has a current ratio of 1.76, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $90.37 and a two-hundred day moving average of $81.32.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, November 4th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.62 by $0.49. The firm had revenue of $986.82 million for the quarter, compared to the consensus estimate of $830.60 million. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. On average, research analysts expect that Everus Construction Group, Inc. will post 2.49 EPS 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.