MYR Group (NASDAQ:MYRG) Given New $138.00 Price Target at Robert W. Baird

MYR Group (NASDAQ:MYRG) had its price objective lifted by Robert W. Baird from $131.00 to $138.00 in a research report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

Several other analysts have also recently weighed in on MYRG. The Goldman Sachs Group cut their price target on shares of MYR Group from $182.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. StockNews.com downgraded MYR Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 18th. Finally, Stifel Nicolaus lowered their price target on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $136.50.

MYR Group Trading Down 0.5 %

MYRG traded down $0.69 during midday trading on Thursday, hitting $130.31. 147,666 shares of the company were exchanged, compared to its average volume of 175,012. The firm has a market capitalization of $2.15 billion, a P/E ratio of 57.21 and a beta of 0.93. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $105.57 and its 200-day moving average price is $128.97. MYR Group has a 1-year low of $86.60 and a 1-year high of $181.02.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The company had revenue of $888.00 million for the quarter, compared to analysts’ expectations of $917.18 million. MYR Group had a return on equity of 5.91% and a net margin of 1.08%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 EPS. As a group, equities analysts forecast that MYR Group will post 0.88 EPS for the current fiscal year.

Institutional Trading of MYR Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of MYR Group in the first quarter valued at approximately $48,000. DekaBank Deutsche Girozentrale purchased a new stake in MYR Group in the 3rd quarter valued at $116,000. Covestor Ltd increased its stake in shares of MYR Group by 23.7% in the 1st quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 132 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of MYR Group by 21.9% during the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 196 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of MYR Group during the 1st quarter valued at about $186,000. 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.