MYR Group, Inc. (MYRG) – What Are Investment Firms Thinking About This Stock?

MYR Group, Inc. (NASDAQ:MYRG) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $397.00.

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded MYR Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Robert W. Baird set a $363.00 target price on MYR Group in a report on Thursday, October 29th. Stifel Nicolaus reduced their price target on shares of MYR Group from $445.00 to $393.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. The Goldman Sachs Group restated a “neutral” rating and set a $331.00 price target on shares of MYR Group in a research note on Thursday, October 22nd. Finally, KeyCorp upgraded shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $361.00 price target for the company in a research note on Thursday, November 5th.

Institutional Investors Weigh In On MYR Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC boosted its stake in MYR Group by 82.7% during the 3rd quarter. Inspire Investing LLC now owns 11,180 shares of the utilities provider’s stock valued at $3,270,000 after purchasing an additional 5,060 shares during the last quarter. First Trust Advisors LP increased its holdings in MYR Group by 23.5% during the 1st quarter. First Trust Advisors LP now owns 203,732 shares of the utilities provider’s stock worth $57,518,000 after purchasing an additional 38,726 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of MYR Group in the second quarter worth approximately $3,454,000. BlackRock Inc. purchased a new stake in shares of MYR Group in the second quarter worth approximately $1,232,294,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of MYR Group in the second quarter worth approximately $1,876,000. 88.90% of the stock is owned by institutional investors.

MYR Group Price Performance

MYRG stock opened at $272.81 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day moving average is $284.99 and its 200-day moving average is $334.35. The stock has a market capitalization of $4.25 billion, a PE ratio of 22.16 and a beta of 1.36. MYR Group has a 1 year low of $199.30 and a 1 year high of $503.57.

MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, October 28th. The utilities provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.85. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.16 billion. MYR Group had a return on equity of 26.32% and a net margin of 4.48%. The firm’s revenue was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. Equities research analysts expect that MYR Group will post 13.46 EPS for the current fiscal year.

About MYR Group

MYR Group Inc. is a specialty electrical construction company that provides services through subsidiaries across the United States and Canada. Its work includes the engineering, construction, and maintenance of electrical infrastructure for utilities and other customers. The company operates through Transmission and Distribution and Commercial and Industrial segments. Transmission and Distribution projects include electric transmission and distribution lines, substations, and related infrastructure, as well as maintenance and emergency restoration work.