Northcoast Research Begins Coverage on EMCOR Group (NYSE:EME)

Northcoast Research initiated coverage on shares of EMCOR Group (NYSE:EME) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $600.00 price target on the construction company’s stock. Northcoast Research’s target price points to a potential upside of 13.82% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of EMCOR Group in a report on Friday, November 15th. They issued a “buy” rating and a $600.00 target price for the company. The Goldman Sachs Group assumed coverage on EMCOR Group in a research note on Friday. They issued a “sell” rating and a $445.00 price objective for the company. DA Davidson boosted their target price on EMCOR Group from $410.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded EMCOR Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.75.

EMCOR Group Price Performance

Shares of EME stock opened at $527.16 on Friday. The business’s fifty day moving average price is $452.05 and its 200 day moving average price is $400.82. The firm has a market capitalization of $24.25 billion, a PE ratio of 26.77 and a beta of 1.07. EMCOR Group has a 1-year low of $209.31 and a 1-year high of $532.38.

EMCOR Group (NYSE:EME) last issued its earnings results on Thursday, October 31st. The construction company reported $5.80 EPS for the quarter, topping the consensus estimate of $4.98 by $0.82. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.61 EPS. Equities research analysts expect that EMCOR Group will post 20.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EMCOR Group

Several hedge funds have recently bought and sold shares of the stock. Caprock Group LLC increased its position in EMCOR Group by 0.4% during the 3rd quarter. Caprock Group LLC now owns 5,836 shares of the construction company’s stock worth $2,513,000 after purchasing an additional 22 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of EMCOR Group by 13.0% during the third quarter. First Horizon Advisors Inc. now owns 235 shares of the construction company’s stock worth $101,000 after buying an additional 27 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its position in shares of EMCOR Group by 3.8% in the third quarter. Cassaday & Co Wealth Management LLC now owns 830 shares of the construction company’s stock valued at $357,000 after buying an additional 30 shares during the last quarter. Mount Lucas Management LP lifted its stake in shares of EMCOR Group by 2.5% during the third quarter. Mount Lucas Management LP now owns 1,388 shares of the construction company’s stock valued at $598,000 after buying an additional 34 shares during the period. Finally, CIBC Asset Management Inc boosted its position in EMCOR Group by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,363 shares of the construction company’s stock worth $587,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.