MYR Group Inc. (NASDAQ:MYRG) Receives $157.00 Consensus Price Target from Analysts

MYR Group Inc. (NASDAQ:MYRG) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $157.00.

Several brokerages have recently commented on MYRG. Robert W. Baird increased their price target on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus increased their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Institutional Investors Weigh In On MYR Group

Several large investors have recently added to or reduced their stakes in the stock. West Oak Capital LLC lifted its position in MYR Group by 234.4% in the 4th quarter. West Oak Capital LLC now owns 4,515 shares of the utilities provider’s stock valued at $672,000 after purchasing an additional 3,165 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of MYR Group by 27.0% during the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after buying an additional 118 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after buying an additional 15,361 shares during the period. Tidal Investments LLC grew its holdings in 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 in the last quarter. Finally, Barclays PLC grew its holdings in MYR Group by 192.2% in 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 in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

MYR Group Trading Down 1.8 %

Shares of MYRG opened at $142.96 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. MYR Group has a one year low of $86.60 and a one year high of $181.02. The stock has a 50-day moving average price of $152.91 and a 200 day moving average price of $128.31. The company has a market capitalization of $2.30 billion, a P/E ratio of 62.43 and a beta of 0.96.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The business had revenue of $888.00 million during the quarter, compared to the consensus estimate of $917.18 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. Sell-side analysts forecast that MYR Group will post 1.16 EPS for the current fiscal year.

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.