Everus Construction Group (NYSE:ECG) Downgraded to Buy Rating by Wall Street Zen

Everus Construction Group (NYSE:ECG) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

A number of other analysts have also issued reports on ECG. Stifel Nicolaus raised their target price on shares of Everus Construction Group from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Oppenheimer raised their target price on shares of Everus Construction Group from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 18th. Finally, DA Davidson increased their price target on shares of Everus Construction Group from $68.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Everus Construction Group Stock Down 0.7%

ECG stock opened at $78.66 on Friday. The company’s 50 day simple moving average is $73.32 and its 200-day simple moving average is $56.84. The firm has a market capitalization of $4.01 billion and a PE ratio of 24.28. Everus Construction Group has a 12 month low of $31.38 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.77 and a quick ratio of 1.69.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, August 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.61 by $0.42. Everus Construction Group had a net margin of 5.07% and a return on equity of 35.83%. The business had revenue of $921.47 million for the quarter, compared to analyst estimates of $749.12 million. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. Everus Construction Group has set its FY 2025 guidance at EPS. Equities analysts expect that Everus Construction Group will post 2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ECG. Westwood Holdings Group Inc. bought a new stake in Everus Construction Group in the 1st quarter valued at about $75,089,000. Alliancebernstein L.P. boosted its holdings in shares of Everus Construction Group by 58.2% during the first quarter. Alliancebernstein L.P. now owns 1,278,096 shares of the company’s stock worth $47,405,000 after purchasing an additional 470,025 shares during the period. Swedbank AB acquired a new stake in shares of Everus Construction Group during the second quarter worth approximately $19,059,000. Victory Capital Management Inc. lifted its stake in Everus Construction Group by 2,050.4% in the first quarter. Victory Capital Management Inc. now owns 260,752 shares of the company’s stock valued at $9,671,000 after acquiring an additional 248,626 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Everus Construction Group in the fourth quarter worth $16,243,000.

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.