MYR Group Inc. (NASDAQ:MYRG) Receives Consensus Rating of "Moderate Buy" from Brokerages

MYR Group Inc. (NASDAQ:MYRG - Get Free Report) has earned an average rating of "Moderate Buy" from the five research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $152.40.

A number of equities research analysts have issued reports on MYRG shares. Piper Sandler lifted their target price on shares of MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a research note on Tuesday. Robert W. Baird lifted their target price on shares of MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wall Street Zen raised shares of MYR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. KeyCorp lifted their target price on shares of MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus cut their price target on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th.

MYR Group Trading Down 0.1%

MYR Group stock traded down $0.11 during midday trading on Wednesday, reaching $158.10. The stock had a trading volume of 204,014 shares, compared to its average volume of 222,720. The firm's fifty day simple moving average is $133.78 and its two-hundred day simple moving average is $139.54. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 69.04 and a beta of 1.06. MYR Group has a twelve month low of $86.60 and a twelve month high of $168.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. The company had revenue of $833.62 million during the quarter, compared to analyst estimates of $788.98 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. Equities analysts anticipate that MYR Group will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MYRG. T. Rowe Price Investment Management Inc. raised its holdings in MYR Group by 42.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider's stock worth $79,942,000 after acquiring an additional 159,302 shares during the period. Millennium Management LLC raised its holdings in MYR Group by 38.4% in the 4th quarter. Millennium Management LLC now owns 461,830 shares of the utilities provider's stock worth $68,706,000 after acquiring an additional 128,159 shares during the period. Wellington Management Group LLP raised its holdings in MYR Group by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 452,213 shares of the utilities provider's stock worth $51,141,000 after acquiring an additional 47,445 shares during the period. American Century Companies Inc. raised its holdings in MYR Group by 38.2% in the 4th quarter. American Century Companies Inc. now owns 331,840 shares of the utilities provider's stock worth $49,368,000 after acquiring an additional 91,644 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in MYR Group by 19.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 324,139 shares of the utilities provider's stock worth $48,222,000 after acquiring an additional 53,496 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.