Everus Construction Group (NYSE:ECG) Shares Gap Down – Here’s What Happened

Everus Construction Group, Inc. (NYSE:ECG)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $135.77, but opened at $127.69. Everus Construction Group shares last traded at $126.66, with a volume of 13,430 shares.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ECG. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “hold (c)” rating on shares of Everus Construction Group in a research report on Thursday, January 22nd. Stifel Nicolaus boosted their price objective on shares of Everus Construction Group to $153.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald began coverage on shares of Everus Construction Group in a research report on Friday, January 23rd. They set a “neutral” rating and a $97.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

Everus Construction Group Stock Performance

The firm’s 50-day moving average is $114.98 and its 200 day moving average is $98.39. The stock has a market cap of $6.50 billion, a PE ratio of 32.31 and a beta of 2.88. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.76.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.72 by $0.36. Everus Construction Group had a net margin of 5.39% and a return on equity of 37.06%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $879.57 million. During the same quarter in the prior year, the firm earned $0.67 EPS. Everus Construction Group’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, research analysts anticipate that Everus Construction Group, Inc. will post 2.49 EPS for the current year.

Hedge Funds Weigh In On Everus Construction Group

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Everus Construction Group in the 4th quarter valued at $4,431,000. Capital International Investors acquired a new position in Everus Construction Group in the 3rd quarter valued at $165,993,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Everus Construction Group by 1,049.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,748 shares of the company’s stock valued at $5,209,000 after buying an additional 55,463 shares during the period. Public Sector Pension Investment Board increased its stake in Everus Construction Group by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 198,991 shares of the company’s stock valued at $17,063,000 after buying an additional 25,140 shares during the period. Finally, Range Financial Group LLC acquired a new position in Everus Construction Group in the 4th quarter valued at $1,146,000.

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.