Analysts Set MYR Group Inc. (NASDAQ:MYRG) Target Price at $170.75

Shares of MYR Group Inc. (NASDAQ:MYRG) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $173.25.

Several research analysts have commented on the company. Robert W. Baird reduced their price objective on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Sidoti downgraded MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a report on Monday, February 26th. Stifel Nicolaus decreased their target price on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, KeyCorp started coverage on shares of MYR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

MYR Group Stock Up 1.3 %

NASDAQ:MYRG opened at $155.65 on Thursday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 30.16 and a beta of 1.10. MYR Group has a twelve month low of $110.87 and a twelve month high of $181.02. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $164.65 and a 200-day simple moving average of $147.17.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The company had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. Analysts anticipate that MYR Group will post 6.64 EPS for the current year.

Institutional Trading of MYR Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MYRG. Daiwa Securities Group Inc. purchased a new position in shares of MYR Group in the fourth quarter worth about $29,000. Fidelis Capital Partners LLC purchased a new stake in shares of MYR Group in the 1st quarter valued at $48,000. Quest Partners LLC purchased a new position in shares of MYR Group during the fourth quarter worth $60,000. GAMMA Investing LLC acquired a new position in MYR Group during the fourth quarter valued at $62,000. Finally, Planned Solutions Inc. purchased a new stake in MYR Group in the fourth quarter valued at $130,000. Institutional investors and hedge funds own 88.90% 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 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.