Everus Construction Group (NYSE:ECG) Shares Gap Up Following Analyst Upgrade

Everus Construction Group, Inc. (NYSE:ECG) shares gapped up before the market opened on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $148.83, but opened at $157.03. Everus Construction Group shares last traded at $159.8580, with a volume of 20,001 shares changing hands.

A number of other analysts have also recently commented on ECG. Oppenheimer began coverage on shares of Everus Construction Group in a research report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target on the stock. Guggenheim raised shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, April 30th. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Freedom Capital cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Glj Research began coverage on shares of Everus Construction Group in a research report on Monday, April 20th. They set a “hold” rating and a $141.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Everus Construction Group currently has an average rating of “Moderate Buy” and a consensus target price of $155.67.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its position in shares of Everus Construction Group by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after purchasing an additional 121 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Everus Construction Group during the 4th quarter worth about $28,000. Flagship Harbor Advisors LLC bought a new position in shares of Everus Construction Group during the 4th quarter worth about $30,000. Finally, McMillan Office Inc. bought a new position in shares of Everus Construction Group during the 4th quarter worth about $43,000.

Everus Construction Group Stock Up 1.2%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 35.37 and a beta of 2.32. The stock’s fifty day moving average is $145.59 and its two-hundred day moving average is $116.48.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $933.81 million. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. Sell-side analysts predict that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal 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.