EMCOR Group (NYSE:EME) Coverage Initiated at Northcoast Research

Analysts at Northcoast Research assumed coverage on shares of EMCOR Group (NYSE:EME) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $600.00 price target on the construction company’s stock. Northcoast Research’s price objective indicates a potential upside of 18.83% from the stock’s previous close.

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

EMCOR Group Price Performance

Shares of EME stock opened at $504.92 on Friday. EMCOR Group has a 1 year low of $209.31 and a 1 year high of $532.38. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.64 and a beta of 1.07. The business has a fifty day moving average of $457.00 and a 200 day moving average of $402.62.

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

Institutional Trading of EMCOR Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Matrix Trust Co purchased a new position in shares of EMCOR Group during the 2nd quarter worth approximately $26,000. Proffitt & Goodson Inc. acquired a new stake in EMCOR Group during the 2nd quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in EMCOR Group during the 3rd quarter worth approximately $33,000. Innealta Capital LLC purchased a new position in EMCOR Group in the 2nd quarter valued at approximately $29,000. Finally, ORG Partners LLC acquired a new position in shares of EMCOR Group in the second quarter worth $31,000. Institutional investors and hedge funds 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.