MYR Group, Inc. (NASDAQ:MYRG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MYR Group, Inc. (NASDAQ:MYRG) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $328.8571.

MYRG has been the topic of a number of research reports. Robert W. Baird set a $373.00 price objective on MYR Group in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MYR Group in a research report on Tuesday, April 21st. Zacks Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group boosted their target price on MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $503.00 target price on MYR Group in a research note on Monday, May 4th.

MYR Group Trading Down 0.7%

Shares of MYRG stock opened at $455.27 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. MYR Group has a 1 year low of $154.55 and a 1 year high of $475.39. The stock has a fifty day moving average of $314.31 and a two-hundred day moving average of $264.09. The firm has a market capitalization of $7.09 billion, a PE ratio of 50.20 and a beta of 1.30.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.90. MYR Group had a return on equity of 22.14% and a net margin of 3.71%.The company had revenue of $1 billion during the quarter, compared to analyst estimates of $932.45 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, research analysts expect that MYR Group will post 9.84 EPS for the current year.

Institutional Trading of MYR Group

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in shares of MYR Group by 212.2% during the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Parallel Advisors LLC raised its holdings in MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 79 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new position in MYR Group in the 4th quarter valued at approximately $35,000. Signaturefd LLC raised its holdings in MYR Group by 65.7% in the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, First Horizon Corp acquired a new position in shares of MYR Group in the 3rd quarter worth approximately $47,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Company Profile

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.