MYR Group (MYRG) Given a $41.00 Price Target by Robert W. Baird Analysts

MYR Group (NASDAQ:MYRG) has been assigned a $41.00 target price by research analysts at Robert W. Baird in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 16.31% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a report on Wednesday. BidaskClub lowered shares of MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. KeyCorp reaffirmed a “hold” rating on shares of MYR Group in a report on Friday, November 24th. TheStreet raised shares of MYR Group from a “c+” rating to a “b-” rating in a report on Thursday, November 16th. Finally, B. Riley lifted their price target on shares of MYR Group from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $34.83.

Shares of MYR Group (MYRG) traded up $0.43 during trading hours on Wednesday, hitting $35.25. 116,400 shares of the stock traded hands, compared to its average volume of 145,700. The firm has a market cap of $573.21, a PE ratio of 37.90 and a beta of 0.48. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. MYR Group has a one year low of $23.00 and a one year high of $43.77.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $373.50 million for the quarter, compared to the consensus estimate of $350.80 million. MYR Group had a net margin of 1.12% and a return on equity of 5.76%. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. sell-side analysts forecast that MYR Group will post 0.79 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MYRG. BNP Paribas Arbitrage SA grew its holdings in MYR Group by 4.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 217 shares during the last quarter. Sei Investments Co. acquired a new position in shares of MYR Group in the 2nd quarter worth approximately $170,000. Crossmark Global Holdings Inc. acquired a new position in shares of MYR Group in the 3rd quarter worth approximately $207,000. Municipal Employees Retirement System of Michigan lifted its position in shares of MYR Group by 40.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 2,290 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of MYR Group by 11.4% in the 2nd quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 852 shares during the period. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

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MYR Group Company Profile

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

Analyst Recommendations for MYR Group (NASDAQ:MYRG)

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