MYR Group Inc. (NASDAQ:MYRG) Given Average Rating of "Moderate Buy" by Brokerages

MYR Group Inc. (NASDAQ:MYRG - Get Free Report) has received an average rating of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $143.75.

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Stifel Nicolaus reduced their price objective on shares of MYR Group from $172.00 to $119.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. Robert W. Baird upped their price objective on shares of MYR Group from $131.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of MYR Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th.

MYR Group Stock Performance

NASDAQ MYRG traded down $5.86 during trading on Monday, reaching $140.95. The company's stock had a trading volume of 209,326 shares, compared to its average volume of 181,122. MYR Group has a twelve month low of $86.60 and a twelve month high of $181.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The business's fifty day moving average price is $116.51 and its 200-day moving average price is $126.97. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 64.11 and a beta of 0.89.

MYR Group (NASDAQ:MYRG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.40. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The business had revenue of $888.00 million for the quarter, compared to analyst estimates of $917.18 million. During the same period in the previous year, the business posted $1.28 earnings per share. The business's revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that MYR Group will post 1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On MYR Group

A number of institutional investors and hedge funds have recently bought and sold shares of MYRG. Covestor Ltd increased its holdings in MYR Group by 23.7% in the 1st quarter. Covestor Ltd now owns 689 shares of the utilities provider's stock valued at $122,000 after buying an additional 132 shares during the period. EntryPoint Capital LLC bought a new stake in MYR Group in the 1st quarter valued at $186,000. RiverPark Advisors LLC grew its holdings in shares of MYR Group by 21.9% in the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider's stock worth $148,000 after purchasing an additional 196 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of MYR Group during the 3rd quarter worth about $116,000. Finally, SG Americas Securities LLC acquired a new stake in shares of MYR Group during the 1st quarter worth about $208,000. Institutional investors own 88.90% of the company's stock.

MYR Group Company Profile

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.