MYR Group Inc. (NASDAQ:MYRG) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of MYR Group Inc. (NASDAQ:MYRG - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $140.60.

A number of equities analysts have recently weighed in on the company. Piper Sandler initiated coverage on MYR Group in a report on Tuesday, April 8th. They issued a "neutral" rating and a $124.00 price target for the company. Robert W. Baird cut their target price on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus decreased their price target on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price objective for the company in a research report on Friday, March 14th.

MYR Group Price Performance

Shares of MYRG traded down $0.03 during mid-day trading on Tuesday, reaching $111.86. 152,061 shares of the company's stock were exchanged, compared to its average volume of 208,853. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group has a 52-week low of $86.60 and a 52-week high of $172.73. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 48.85 and a beta of 1.07. The company has a 50-day simple moving average of $122.20 and a two-hundred day simple moving average of $134.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MYRG. FMR LLC boosted its position in shares of MYR Group by 90.2% in the third quarter. FMR LLC now owns 2,336 shares of the utilities provider's stock worth $239,000 after acquiring an additional 1,108 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of MYR Group by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 28,746 shares of the utilities provider's stock valued at $2,938,000 after purchasing an additional 632 shares during the last quarter. Quadrature Capital Ltd grew its stake in shares of MYR Group by 41.0% during the 3rd quarter. Quadrature Capital Ltd now owns 5,564 shares of the utilities provider's stock valued at $569,000 after buying an additional 1,618 shares during the period. Barclays PLC increased its holdings in shares of MYR Group by 192.2% during the 3rd quarter. Barclays PLC now owns 34,987 shares of the utilities provider's stock worth $3,578,000 after buying an additional 23,013 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of MYR Group by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock worth $438,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds 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.