Brokerages Set MYR Group Inc. (NASDAQ:MYRG) Price Target at $147.75

MYR Group Inc. (NASDAQ:MYRG) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $147.75.

Several equities research analysts have recently weighed in on MYRG shares. Stifel Nicolaus decreased their price target on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Robert W. Baird decreased their target price on shares of MYR Group from $170.00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st.

Institutional Trading of MYR Group

A number of large investors have recently bought and sold shares of MYRG. Daiwa Securities Group Inc. acquired a new stake in MYR Group during the 4th quarter worth about $29,000. Fidelis Capital Partners LLC acquired a new stake in MYR Group during the 1st quarter worth about $48,000. Quest Partners LLC acquired a new stake in MYR Group during the 4th quarter worth about $60,000. GAMMA Investing LLC acquired a new stake in MYR Group during the 4th quarter worth about $62,000. Finally, Covestor Ltd grew its holdings in MYR Group by 23.7% during 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 period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Stock Up 0.8 %

Shares of MYRG opened at $99.99 on Friday. MYR Group has a 52 week low of $92.48 and a 52 week high of $181.02. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 19.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.40 and a current ratio of 1.36. The stock has a fifty day moving average of $132.86 and a 200-day moving average of $150.73.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.98). The firm had revenue of $828.89 million during the quarter, compared to the consensus estimate of $876.07 million. MYR Group had a net margin of 1.37% and a return on equity of 7.65%. The firm’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, sell-side analysts anticipate that MYR Group will post 5.4 earnings per share for the current fiscal year.

About MYR Group

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.