MYR Group Inc (NASDAQ:MYRG) has been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.50.
A number of research analysts have issued reports on the stock. BidaskClub lowered shares of MYR Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research lowered shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday. KeyCorp restated a “hold” rating on shares of MYR Group in a research report on Friday, November 24th. Robert W. Baird restated an “outperform” rating on shares of MYR Group in a research report on Thursday, March 8th. Finally, Canaccord Genuity increased their target price on shares of MYR Group from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, March 9th.
Shares of MYR Group (MYRG) traded up $0.02 during trading hours on Friday, hitting $35.20. 229,994 shares of the company’s stock were exchanged, compared to its average volume of 73,075. MYR Group has a 1 year low of $23.00 and a 1 year high of $43.49. The firm has a market cap of $579.64, a price-to-earnings ratio of 27.72 and a beta of 0.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.01 and a current ratio of 2.01.
Several institutional investors have recently modified their holdings of MYRG. Louisiana State Employees Retirement System bought a new position in MYR Group in the 4th quarter valued at approximately $254,000. California Public Employees Retirement System raised its stake in shares of MYR Group by 9.6% during the third quarter. California Public Employees Retirement System now owns 42,954 shares of the utilities provider’s stock valued at $1,252,000 after acquiring an additional 3,754 shares during the last quarter. Keybank National Association OH bought a new position in shares of MYR Group during the fourth quarter valued at $697,000. KBC Group NV raised its stake in shares of MYR Group by 21.4% during the third quarter. KBC Group NV now owns 38,940 shares of the utilities provider’s stock valued at $1,135,000 after acquiring an additional 6,874 shares during the last quarter. Finally, Western Standard LLC bought a new position in shares of MYR Group during the third quarter valued at $393,000. 89.25% of the stock is owned by institutional investors.
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MYR Group Company Profile
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.
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