MYR Group's (MYRG) "Hold (C+)" Rating Reiterated at Weiss Ratings

MYR Group (NASDAQ:MYRG - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

A number of other analysts also recently weighed in on MYRG. KeyCorp reaffirmed a "sector weight" rating on shares of MYR Group in a report on Wednesday, October 1st. Jefferies Financial Group began coverage on shares of MYR Group in a research report on Friday, August 15th. They issued a "hold" rating and a $202.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of MYR Group from $168.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Stifel Nicolaus increased their target price on shares of MYR Group from $210.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Finally, Wall Street Zen lowered shares of MYR Group from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $194.50.

MYR Group Stock Up 5.0%

MYR Group stock opened at $219.63 on Friday. The firm has a market capitalization of $3.41 billion, a PE ratio of 45.85 and a beta of 1.19. The company's 50-day moving average is $192.07 and its 200-day moving average is $173.72. MYR Group has a fifty-two week low of $97.72 and a fifty-two week high of $221.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.33 and a quick ratio of 1.33.

MYR Group (NASDAQ:MYRG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The company had revenue of $900.33 million for the quarter, compared to analyst estimates of $828.20 million. During the same period in the previous year, the business earned ($0.91) EPS. MYR Group's revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that MYR Group will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On MYR Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYRG. Bank of Montreal Can grew its position in shares of MYR Group by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 4,087 shares of the utilities provider's stock worth $742,000 after buying an additional 56 shares during the period. MAI Capital Management lifted its stake in shares of MYR Group by 44.8% in the 2nd quarter. MAI Capital Management now owns 181 shares of the utilities provider's stock worth $33,000 after purchasing an additional 56 shares during the period. Inspire Investing LLC lifted its stake in shares of MYR Group by 2.6% in the 3rd quarter. Inspire Investing LLC now owns 2,198 shares of the utilities provider's stock worth $457,000 after purchasing an additional 56 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in MYR Group by 0.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,332 shares of the utilities provider's stock worth $2,056,000 after acquiring an additional 75 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in MYR Group by 4.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,641 shares of the utilities provider's stock worth $298,000 after acquiring an additional 75 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

About MYR Group

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.

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