Shares of MYR Group Inc (NASDAQ:MYRG) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.83.

MYRG has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, January 3rd. TheStreet upgraded shares of MYR Group from a “c+” rating to a “b-” rating in a research note on Thursday, November 16th. BidaskClub cut shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Robert W. Baird boosted their target price on shares of MYR Group from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, B. Riley boosted their target price on shares of MYR Group from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th.

Shares of MYR Group (MYRG) traded down $0.70 during mid-day trading on Friday, reaching $33.63. 21,575 shares of the company’s stock were exchanged, compared to its average volume of 86,719. MYR Group has a twelve month low of $23.00 and a twelve month high of $43.77. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The company has a market cap of $568.10, a P/E ratio of 36.91 and a beta of 0.48.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.17). MYR Group had a return on equity of 5.76% and a net margin of 1.12%. The firm had revenue of $373.50 million during the quarter, compared to the consensus estimate of $350.80 million. During the same period in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. research analysts predict that MYR Group will post 0.79 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. purchased a new position in MYR Group in the third quarter valued at about $207,000. Municipal Employees Retirement System of Michigan boosted its stake in MYR Group by 40.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 2,290 shares during the last quarter. Sei Investments Co. boosted its stake in MYR Group by 50.9% in the third quarter. Sei Investments Co. now owns 8,229 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 2,774 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in MYR Group by 56.7% in the third quarter. BNP Paribas Arbitrage SA now owns 8,501 shares of the utilities provider’s stock valued at $248,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in MYR Group in the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.

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About MYR Group

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

Analyst Recommendations for MYR Group (NASDAQ:MYRG)

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