Cantor Fitzgerald Begins Coverage on Everus Construction Group (NYSE:ECG)

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Everus Construction Group (NYSE:ECG) in a note issued to investors on Friday, Marketbeat reports. The firm set a “neutral” rating and a $97.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 6.48% from the stock’s current price.

A number of other brokerages also recently weighed in on ECG. Guggenheim initiated coverage on shares of Everus Construction Group in a report on Thursday. They issued a “neutral” rating for the company. DA Davidson set a $102.00 target price on shares of Everus Construction Group in a research note on Thursday, November 6th. Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everus Construction Group in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on Everus Construction Group from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.50.

Everus Construction Group Stock Performance

ECG opened at $91.10 on Friday. The business has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $83.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.76 and a quick ratio of 1.69. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 25.81 and a beta of 3.84. Everus Construction Group has a 1-year low of $31.38 and a 1-year high of $103.08.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.49. Everus Construction Group had a return on equity of 36.74% and a net margin of 5.18%.The company had revenue of $986.82 million for the quarter, compared to the consensus estimate of $830.60 million. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. Research analysts predict that Everus Construction Group will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Everus Construction Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Signaturefd LLC raised its position in Everus Construction Group by 91.6% during the second quarter. Signaturefd LLC now owns 435 shares of the company’s stock valued at $28,000 after buying an additional 208 shares during the period. Sound Income Strategies LLC purchased a new stake in Everus Construction Group in the 4th quarter worth about $28,000. Bessemer Group Inc. lifted its stake in Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after acquiring an additional 137 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Everus Construction Group during the 4th quarter worth about $30,000.

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.