BidaskClub upgraded shares of MYR Group (NASDAQ:MYRG) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.
Several other research analysts have also commented on the stock. ValuEngine lowered shares of MYR Group from a hold rating to a sell rating in a report on Thursday, August 1st. Stifel Nicolaus raised shares of MYR Group from a hold rating to a buy rating and lifted their price target for the company from $32.00 to $39.00 in a report on Thursday, May 16th. Robert W. Baird raised shares of MYR Group from a neutral rating to an outperform rating and lifted their price target for the company from $35.00 to $36.00 in a report on Wednesday, September 11th. B. Riley decreased their price target on shares of MYR Group from $39.00 to $34.00 and set a neutral rating for the company in a report on Friday, August 2nd. Finally, Zacks Investment Research lowered shares of MYR Group from a buy rating to a hold rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $37.50.
Shares of MYRG stock opened at $33.08 on Thursday. The firm has a market cap of $530.36 million, a P/E ratio of 17.69 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.69 and a quick ratio of 1.69. MYR Group has a 1-year low of $26.24 and a 1-year high of $38.14. The firm has a fifty day moving average of $29.98 and a two-hundred day moving average of $33.82.
MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.17). MYR Group had a net margin of 1.88% and a return on equity of 10.15%. The business had revenue of $448.80 million during the quarter, compared to analyst estimates of $445.20 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts expect that MYR Group will post 2.09 EPS for the current year.
A number of large investors have recently modified their holdings of MYRG. BNP Paribas Arbitrage SA lifted its position in MYR Group by 698.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,360 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 2,939 shares during the last quarter. Bank of Montreal Can lifted its position in MYR Group by 386.6% in the 1st quarter. Bank of Montreal Can now owns 5,168 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 4,106 shares during the last quarter. SG Americas Securities LLC bought a new stake in MYR Group in the 1st quarter valued at about $262,000. Comerica Bank lifted its position in MYR Group by 2.3% in the 1st quarter. Comerica Bank now owns 16,359 shares of the utilities provider’s stock valued at $594,000 after purchasing an additional 363 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in MYR Group by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 11,247 shares of the utilities provider’s stock valued at $389,000 after purchasing an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 90.85% of the company’s stock.
About MYR Group
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.
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