MYR Group (MYRG) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of MYR Group (NASDAQ:MYRG) from a sell rating to a hold rating in a report released on Monday morning.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of MYR Group from a sell rating to a hold rating in a research note on Wednesday, October 17th. Macquarie upgraded shares of MYR Group to a buy rating in a research note on Thursday, December 6th. Robert W. Baird set a $36.00 price objective on shares of MYR Group and gave the company a hold rating in a report on Thursday, November 1st. Citigroup downgraded shares of MYR Group to a sell rating in a report on Monday, November 5th. Finally, Nomura raised shares of MYR Group to a buy rating in a report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $40.00.
Shares of MYR Group stock traded up $0.26 during midday trading on Monday, reaching $30.86. The company had a trading volume of 1,231 shares, compared to its average volume of 58,007. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market cap of $501.91 million, a P/E ratio of 37.89 and a beta of 0.48. MYR Group has a 1-year low of $26.24 and a 1-year high of $40.81.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in MYR Group during the second quarter valued at approximately $150,000. Strs Ohio boosted its stake in MYR Group by 248.4% in the 3rd quarter. Strs Ohio now owns 5,574 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 3,974 shares in the last quarter. Alambic Investment Management L.P. bought a new position in MYR Group during the 2nd quarter valued at about $209,000. Jefferies Group LLC bought a new position in MYR Group during the 3rd quarter valued at about $202,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MYR Group in the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 89.56% 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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