Everus Construction Group, Inc. (NYSE:ECG) Sees Significant Increase in Short Interest

Everus Construction Group, Inc. (NYSE:ECG) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,810,787 shares, a growth of 26.2% from the December 31st total of 1,434,322 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 912,752 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 912,752 shares, the short-interest ratio is presently 2.0 days. Approximately 3.6% of the shares of the company are sold short.

Everus Construction Group Stock Up 2.2%

Shares of ECG stock traded up $2.04 during midday trading on Tuesday, reaching $92.68. 444,843 shares of the stock were exchanged, compared to its average volume of 770,644. The company has a current ratio of 1.76, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Everus Construction Group has a 1 year low of $31.38 and a 1 year high of $103.08. The firm has a market cap of $4.73 billion, a PE ratio of 26.25 and a beta of 3.84. The company’s 50 day moving average is $90.26 and its two-hundred day moving average is $84.72.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new position in Everus Construction Group during the fourth quarter valued at approximately $222,000. Equitable Trust Co. lifted its stake in shares of Everus Construction Group by 33.9% during the 4th quarter. Equitable Trust Co. now owns 3,804 shares of the company’s stock valued at $325,000 after buying an additional 963 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Everus Construction Group by 24.7% during the 4th quarter. Truist Financial Corp now owns 5,396 shares of the company’s stock valued at $462,000 after buying an additional 1,068 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Everus Construction Group by 120.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after buying an additional 28,164 shares during the period. Finally, Sigma Planning Corp purchased a new stake in Everus Construction Group in the 4th quarter worth $739,000.

Analysts Set New Price Targets

Several research firms recently commented on ECG. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of Everus Construction Group in a research report on Thursday, November 6th. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus dropped their price target on Everus Construction Group from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Monday, January 26th. DA Davidson set a $102.00 price objective on Everus Construction Group in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald began coverage on Everus Construction Group in a research report on Friday, January 23rd. They issued a “neutral” rating and a $97.00 target price for the company. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.75.

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.