Shares of MYR Group, Inc. (NASDAQ:MYRG - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $170.85 and last traded at $170.49, with a volume of 51321 shares traded. The stock had previously closed at $166.99.
Analyst Ratings Changes
A number of research firms have recently commented on MYRG. Stifel Nicolaus lowered their target price on MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group lowered shares of MYR Group from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $145.00 to $168.00 in a research note on Friday, June 6th. Piper Sandler upped their price target on MYR Group from $138.00 to $153.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Robert W. Baird increased their target price on MYR Group from $159.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, KeyCorp lifted their price target on MYR Group from $136.00 to $163.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.00.
Read Our Latest Analysis on MYRG
MYR Group Price Performance
The stock has a market capitalization of $2.62 billion, a P/E ratio of 77.49 and a beta of 1.17. The business's 50 day moving average price is $146.30 and its 200 day moving average price is $140.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.31.
MYR Group (NASDAQ:MYRG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. The business had revenue of $833.62 million during the quarter, compared to analyst estimates of $788.98 million. MYR Group had a net margin of 1.02% and a return on equity of 5.84%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. Sell-side analysts forecast that MYR Group, Inc. will post 1.16 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd increased its position in shares of MYR Group by 13.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after purchasing an additional 72 shares during the last quarter. Captrust Financial Advisors increased its holdings in MYR Group by 0.9% during the fourth quarter. Captrust Financial Advisors now owns 8,519 shares of the utilities provider's stock valued at $1,267,000 after buying an additional 75 shares during the last quarter. Baird Financial Group Inc. raised its position in MYR Group by 3.8% in the first quarter. Baird Financial Group Inc. now owns 2,974 shares of the utilities provider's stock worth $336,000 after acquiring an additional 108 shares during the period. US Bancorp DE boosted its stake in shares of MYR Group by 2.4% during the 1st quarter. US Bancorp DE now owns 6,261 shares of the utilities provider's stock worth $708,000 after acquiring an additional 144 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of MYR Group by 92.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 343 shares of the utilities provider's stock worth $39,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 88.90% of the company's stock.
About MYR Group
(
Get Free Report)
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.
Further Reading
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