Everus (NYSE:ECG) Trading 5.5% Higher – Time to Buy?

Everus (NYSE:ECG)’s share price shot up 5.5% during mid-day trading on Tuesday . The stock traded as high as $40.85 and last traded at $40.74. 552,005 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 719,164 shares. The stock had previously closed at $38.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ECG shares. DA Davidson initiated coverage on Everus in a research report on Monday, November 4th. They set a “neutral” rating and a $55.00 price objective for the company. Stifel Nicolaus reduced their target price on Everus from $85.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wolfe Research started coverage on Everus in a research note on Tuesday, December 3rd. They issued a “peer perform” rating on the stock. Finally, Oppenheimer boosted their price objective on Everus from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th.

Everus Stock Performance

The business’s 50 day simple moving average is $65.19. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). Equities research analysts anticipate that Everus will post 2.49 earnings per share for the current year.

Insider Transactions at Everus

In other news, Director Rocca Michael Della acquired 1,050 shares of Everus stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $47.56 per share, with a total value of $49,938.00. Following the completion of the transaction, the director now owns 2,027 shares in the company, valued at approximately $96,404.12. This trade represents a 107.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Everus

Hedge funds and other institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. acquired a new position in Everus in the fourth quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in shares of Everus during the 4th quarter worth $27,000. HighMark Wealth Management LLC acquired a new position in shares of Everus during the 4th quarter worth $28,000. Crews Bank & Trust bought a new position in shares of Everus during the 4th quarter valued at $29,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Everus in the 4th quarter valued at $36,000.

Everus 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.