Everus Construction Group (NYSE:ECG) Shares Gap Up – Still a Buy?

Everus Construction Group, Inc. (NYSE:ECG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $148.83, but opened at $157.03. Everus Construction Group shares last traded at $159.8580, with a volume of 20,001 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on ECG. 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. Guggenheim upgraded shares of Everus Construction Group from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, April 30th. Freedom Capital lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a report on Friday, May 8th. Finally, Zacks Research lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $155.67.

Everus Construction Group Stock Up 1.0%

The company’s fifty day simple moving average is $144.36 and its 200 day simple moving average is $115.61. The firm has a market capitalization of $8.04 billion, a P/E ratio of 36.13 and a beta of 2.33. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.33. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. Everus Construction Group’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Research analysts expect that Everus Construction Group, Inc. will post 4.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Everus Construction Group by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after acquiring an additional 121 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Everus Construction Group in the 4th quarter worth about $28,000. Bessemer Group Inc. increased its stake in shares of Everus Construction Group by 68.2% in the 3rd quarter. Bessemer Group Inc. now owns 338 shares of the company’s stock worth $29,000 after acquiring an additional 137 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Everus Construction Group in the 4th quarter worth about $30,000.

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.