Zacks Research Downgrades Everus Construction Group (NYSE:ECG) to Hold

Everus Construction Group (NYSE:ECG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on ECG. Glj Research assumed coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 price objective on the stock. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a 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. Cantor Fitzgerald upped their price target on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Oppenheimer assumed coverage on Everus Construction Group in a report on Thursday, May 28th. They set an “outperform” rating and a $185.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $155.67.

Everus Construction Group Price Performance

Everus Construction Group stock opened at $117.12 on Monday. The stock’s 50 day moving average is $145.85 and its 200 day moving average is $127.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.77 and a quick ratio of 1.71. The firm has a market cap of $5.98 billion, a P/E ratio of 26.86 and a beta of 2.23. Everus Construction Group has a one year low of $68.51 and a one year high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $933.81 million. During the same quarter in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts expect that Everus Construction Group will post 4.39 EPS for the current year.

Institutional Trading of Everus Construction Group

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in Everus Construction Group by 155.0% in the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after buying an additional 29,689 shares in the last quarter. Millennium Management LLC boosted its holdings in Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after acquiring an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after acquiring an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Everus Construction Group by 33.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock valued at $5,207,000 after acquiring an additional 34,868 shares during the period. Finally, Jane Street Group LLC grew its stake in Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock valued at $2,645,000 after acquiring an additional 46,247 shares during the period.

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.