Analysts Set MYR Group Inc. (NASDAQ:MYRG) Target Price at $137.75

MYR Group Inc. (NASDAQ:MYRG) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $137.75.

Several research analysts have recently commented on MYRG shares. The Goldman Sachs Group decreased their price objective on MYR Group from $182.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. StockNews.com downgraded MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. Stifel Nicolaus cut their target price on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Robert W. Baird cut their target price on MYR Group from $170.00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st.

MYR Group Stock Down 1.0 %

NASDAQ MYRG opened at $102.99 on Friday. The stock’s 50-day moving average price is $103.85 and its 200-day moving average price is $136.60. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. MYR Group has a 52 week low of $86.60 and a 52 week high of $181.02. The company has a market capitalization of $1.73 billion, a P/E ratio of 19.88 and a beta of 0.93.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.91) EPS for the quarter, missing the consensus estimate of $1.07 by ($1.98). MYR Group had a return on equity of 7.65% and a net margin of 1.37%. The company had revenue of $828.89 million during the quarter, compared to the consensus estimate of $876.07 million. During the same period last year, the business earned $1.33 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that MYR Group will post 0.91 earnings per share for the current year.

Institutional Trading of MYR Group

Institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new position in MYR Group during the 1st quarter valued at approximately $48,000. GAMMA Investing LLC grew its holdings in MYR Group by 37.8% during the 1st quarter. GAMMA Investing LLC now owns 598 shares of the utilities provider’s stock valued at $106,000 after buying an additional 164 shares in the last quarter. Covestor Ltd grew its holdings in MYR Group by 23.7% during 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 in the last quarter. RiverPark Advisors LLC grew its holdings in MYR Group by 21.9% during the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock valued at $148,000 after buying an additional 196 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in MYR Group during the 1st quarter valued at approximately $186,000. Hedge funds and other 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.