Everus Construction Group (NYSE:ECG) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Everus Construction Group (NYSE:ECG) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $185.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 23.57% from the company’s current price.

ECG has been the subject of several other reports. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Guggenheim raised Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Thursday, April 30th. Weiss Ratings upgraded Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Glj Research began coverage on Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $155.67.

Everus Construction Group Stock Performance

Shares of NYSE:ECG traded down $1.77 during midday trading on Thursday, reaching $149.71. 28,928 shares of the company traded hands, compared to its average volume of 656,128. The firm’s fifty day moving average price is $136.28 and its two-hundred day moving average price is $110.24. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 34.37 and a beta of 2.55. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.38. Everus Construction Group has a 12 month low of $56.10 and a 12 month high of $171.58.

Everus Construction Group (NYSE:ECG) last issued its earnings results on Tuesday, May 5th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.81 by $0.33. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. Everus Construction Group had a return on equity of 37.17% and a net margin of 5.65%.The firm’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts expect that Everus Construction Group will post 4.39 earnings per share for the current year.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Everus Construction Group by 30.5% during the 1st quarter. Bank of America Corp DE now owns 144,724 shares of the company’s stock valued at $17,086,000 after buying an additional 33,793 shares in the last quarter. Amundi grew its position in Everus Construction Group by 2,791.2% in the first quarter. Amundi now owns 116,081 shares of the company’s stock worth $13,705,000 after acquiring an additional 112,066 shares in the last quarter. California State Teachers Retirement System increased its stake in Everus Construction Group by 23.1% in the first quarter. California State Teachers Retirement System now owns 57,084 shares of the company’s stock valued at $6,739,000 after acquiring an additional 10,726 shares during the last quarter. Rithm Capital Corp. increased its stake in Everus Construction Group by 23.5% in the first quarter. Rithm Capital Corp. now owns 10,500 shares of the company’s stock valued at $1,240,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Everus Construction Group during the first quarter valued at about $230,000.

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.