Everus (NYSE:ECG) Hits New 52-Week Low - Here's What Happened

Everus (NYSE:ECG - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as $37.18 and last traded at $37.94, with a volume of 568350 shares. The stock had previously closed at $39.29.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ECG. Oppenheimer upped their target price on shares of Everus from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Stifel Nicolaus lowered their target price on shares of Everus from $85.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Wolfe Research initiated coverage on shares of Everus in a research report on Tuesday, December 3rd. They issued a "peer perform" rating on the stock.

Everus Price Performance

The firm's 50-day moving average is $60.68. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). Sell-side analysts predict that Everus will post 2.49 EPS for the current fiscal year.

Insider Activity at Everus

In other news, Director Edward A. Ryan acquired 1,400 shares of Everus stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $38.02 per share, with a total value of $53,228.00. Following the completion of the purchase, the director now owns 14,928 shares of the company's stock, valued at approximately $567,562.56. This represents a 10.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Maximillian J. Marcy acquired 1,300 shares of Everus stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average cost of $38.99 per share, for a total transaction of $50,687.00. Following the purchase, the chief financial officer now directly owns 5,508 shares of the company's stock, valued at approximately $214,756.92. This trade represents a 30.89 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,750 shares of company stock valued at $153,853.

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Hedge Funds Weigh In On Everus

A number of large investors have recently bought and sold shares of ECG. Forza Wealth Management LLC purchased a new position in Everus during the fourth quarter worth approximately $336,000. Mendota Financial Group LLC purchased a new position in Everus during the fourth quarter worth approximately $36,000. SeaCrest Wealth Management LLC purchased a new position in Everus during the fourth quarter worth approximately $292,000. Hennessy Advisors Inc. purchased a new position in Everus during the fourth quarter worth approximately $31,611,000. Finally, Brady Martz Wealth Solutions LLC purchased a new position in Everus during the fourth quarter worth approximately $472,000.

About Everus

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.