DA Davidson Reiterates “Neutral” Rating for Everus Construction Group (NYSE:ECG)

Everus Construction Group (NYSE:ECG)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $102.00 target price on the stock. DA Davidson’s price objective points to a potential downside of 22.64% from the company’s previous close.

A number of other research firms have also weighed in on ECG. Zacks Research lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Guggenheim initiated coverage on shares of Everus Construction Group in a research report on Thursday, January 22nd. They issued a “neutral” rating for the company. Cantor Fitzgerald began coverage on Everus Construction Group in a research report on Friday, January 23rd. They set a “neutral” rating and a $97.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Everus Construction Group in a research note on Thursday, January 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Everus Construction Group in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $102.75.

Everus Construction Group Stock Performance

Shares of NYSE:ECG traded up $27.63 during trading on Wednesday, reaching $131.84. The company had a trading volume of 2,959,748 shares, compared to its average volume of 736,103. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 37.35 and a beta of 3.84. 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 stock’s fifty day moving average price is $92.84 and its 200 day moving average price is $87.80. Everus Construction Group has a fifty-two week low of $31.38 and a fifty-two week high of $137.64.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, February 24th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.72 by $0.36. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $879.57 million. Everus Construction Group had a net margin of 5.18% and a return on equity of 36.74%. Everus Construction Group’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. As a group, equities research analysts predict that Everus Construction Group will post 2.49 EPS for the current year.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors have recently modified their holdings of the company. Wasatch Advisors LP acquired a new position in Everus Construction Group during the fourth quarter worth about $184,838,000. Capital International Investors bought a new position in shares of Everus Construction Group during the 3rd quarter valued at about $165,993,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Everus Construction Group by 147,209.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after purchasing an additional 1,260,117 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock worth $153,984,000 after purchasing an additional 832,389 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Everus Construction Group by 162.2% during the fourth quarter. Millennium Management LLC now owns 642,250 shares of the company’s stock valued at $54,951,000 after purchasing an additional 397,268 shares during the last quarter.

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.