MYR Group (MYRG) Upgraded at BidaskClub

BidaskClub upgraded shares of MYR Group (NASDAQ:MYRG) from a hold rating to a buy rating in a research note released on Wednesday.

MYRG has been the subject of a number of other reports. Zacks Investment Research upgraded MYR Group from a sell rating to a hold rating in a research note on Wednesday, October 17th. Robert W. Baird cut MYR Group from an outperform rating to a neutral rating in a research note on Friday, August 3rd. B. Riley decreased their price target on MYR Group from $40.00 to $39.00 and set a neutral rating for the company in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus raised their price objective on MYR Group from $37.00 to $41.00 and gave the stock a hold rating in a research note on Tuesday, July 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $40.60.

MYR Group stock opened at $32.25 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.86 and a quick ratio of 1.86. MYR Group has a one year low of $28.93 and a one year high of $40.81. The stock has a market capitalization of $534.25 million, a price-to-earnings ratio of 39.81 and a beta of 0.47.



MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. MYR Group had a return on equity of 7.81% and a net margin of 2.18%. The company had revenue of $339.68 million during the quarter, compared to analysts’ expectations of $364.65 million. During the same period last year, the business posted $0.07 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts predict that MYR Group will post 1.86 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in shares of MYR Group in the second quarter worth about $136,000. SG Americas Securities LLC purchased a new position in shares of MYR Group in the second quarter worth about $150,000. Strs Ohio raised its stake in shares of MYR Group by 248.4% in the third quarter. Strs Ohio now owns 5,574 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 3,974 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in shares of MYR Group in the second quarter worth about $209,000. Finally, Meeder Asset Management Inc. raised its stake in shares of MYR Group by 17,225.7% in the second quarter. Meeder Asset Management Inc. now owns 6,064 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 6,029 shares during the last quarter. Hedge funds and other institutional investors own 87.67% 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 and the renewable energy industries.

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Analyst Recommendations for MYR Group (NASDAQ:MYRG)

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