Everus Construction Group (NYSE:ECG) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Everus Construction Group (NYSE:ECG) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday. Guggenheim boosted their price objective on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday. Glj Research started coverage on Everus Construction Group in a report on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective for the company. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Cantor Fitzgerald raised their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Everus Construction Group has an average rating of “Moderate Buy” and an average price target of $162.17.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $139.38 on Thursday. The business has a 50 day moving average of $142.97 and a 200-day moving average of $129.37. Everus Construction Group has a 1 year low of $69.61 and a 1 year high of $171.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.71. The company has a market capitalization of $7.11 billion, a P/E ratio of 28.04 and a beta of 2.37.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities research analysts predict that Everus Construction Group will post 4.39 earnings per share for the current year.

Hedge Funds Weigh In On Everus Construction Group

Several institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after acquiring an additional 670,646 shares during the period. Fifth Third Bancorp raised its stake in shares of Everus Construction Group by 9,475.7% during the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock valued at $3,855,000 after purchasing an additional 32,312 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Everus Construction Group by 120.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock valued at $4,404,000 after purchasing an additional 28,164 shares during the period. GSA Capital Partners LLP purchased a new stake in Everus Construction Group during the 4th quarter worth about $924,000. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Everus Construction Group during the 4th quarter worth about $393,000.

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. Everus Construction Group is based in BISMARCK, N.D.