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

Shares of MYR Group Inc. (NASDAQ:MYRG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $149.40.

A number of research firms have recently weighed in on MYRG. Piper Sandler increased their target price on shares of MYR Group from $124.00 to $138.00 and gave the company a "neutral" rating in a research report on Monday. KeyCorp boosted their target price on MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Robert W. Baird boosted their price objective on shares of MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. StockNews.com upgraded MYR Group from a "hold" rating to a "buy" rating in a research report on Monday. Finally, The Goldman Sachs Group decreased their price objective on MYR Group from $164.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 24th.

MYR Group Trading Up 1.2 %

Shares of MYRG stock traded up $1.83 during trading hours on Friday, hitting $154.73. 121,709 shares of the company were exchanged, compared to its average volume of 213,957. The company has a 50 day simple moving average of $119.51 and a two-hundred day simple moving average of $135.89. MYR Group has a fifty-two week low of $86.60 and a fifty-two week high of $168.88. The firm has a market cap of $2.40 billion, a P/E ratio of 67.61 and a beta of 1.06. 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 (NASDAQ:MYRG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.27. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The company had revenue of $833.62 million for the quarter, compared to analyst estimates of $788.98 million. During the same period in the prior year, the firm earned $1.12 earnings per share. MYR Group's revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that MYR Group will post 1.16 EPS for the current year.

Institutional Investors Weigh In On MYR Group

A number of large investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd boosted its stake in shares of MYR Group by 16.3% in the 1st quarter. ANTIPODES PARTNERS Ltd now owns 719 shares of the utilities provider's stock worth $81,000 after buying an additional 101 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MYR Group in the first quarter worth about $1,922,000. Teachers Retirement System of The State of Kentucky grew its stake in shares of MYR Group by 19.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,319 shares of the utilities provider's stock valued at $1,846,000 after purchasing an additional 2,632 shares during the period. TimesSquare Capital Management LLC increased its position in shares of MYR Group by 40.3% during the 1st quarter. TimesSquare Capital Management LLC now owns 168,257 shares of the utilities provider's stock valued at $19,028,000 after purchasing an additional 48,324 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of MYR Group by 176.9% in the 1st quarter. CWM LLC now owns 1,293 shares of the utilities provider's stock worth $146,000 after purchasing an additional 826 shares during the period. 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.