MYR Group Inc. (NASDAQ:MYRG) Receives $137.75 Consensus Price Target from Analysts

Shares of MYR Group Inc. (NASDAQ:MYRG) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $137.75.

MYRG has been the subject of several analyst reports. StockNews.com lowered MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. Robert W. Baird decreased their price target on MYR Group from $170.00 to $143.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. The Goldman Sachs Group decreased their price target on MYR Group from $182.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, Stifel Nicolaus decreased their price target on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, August 5th.

MYR Group Price Performance

NASDAQ:MYRG opened at $102.99 on Friday. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.88 and a beta of 0.93. MYR Group has a 1 year low of $86.60 and a 1 year high of $181.02. The business has a 50 day simple moving average of $103.85 and a 200-day simple moving average of $136.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($1.98). The company had revenue of $828.89 million during the quarter, compared to the consensus estimate of $876.07 million. MYR Group had a net margin of 1.37% and a return on equity of 7.65%. MYR Group’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Equities analysts forecast that MYR Group will post 0.91 EPS for the current year.

Institutional Investors Weigh In On MYR Group

Institutional investors and hedge funds have recently bought and sold shares of the company. UniSuper Management Pty Ltd bought a new stake in MYR Group during the 1st quarter valued at $645,000. Trillium Asset Management LLC raised its position in MYR Group by 60.3% during the 1st quarter. Trillium Asset Management LLC now owns 77,694 shares of the utilities provider’s stock valued at $13,733,000 after purchasing an additional 29,215 shares in the last quarter. Capital World Investors bought a new stake in MYR Group during the 4th quarter valued at $20,781,000. Essex Investment Management Co. LLC bought a new stake in MYR Group during the 1st quarter valued at $1,359,000. Finally, Quadrature Capital Ltd bought a new stake in MYR Group during the 4th quarter valued at $1,481,000. 88.90% of the stock is owned by institutional investors.

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.