MYR Group, Inc. (NASDAQ:MYRG) has received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $33.50.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, March 13th. BidaskClub downgraded MYR Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Robert W. Baird restated an “outperform” rating on shares of MYR Group in a research note on Thursday, March 8th. ValuEngine downgraded MYR Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, KeyCorp restated a “hold” rating on shares of MYR Group in a research note on Friday, November 24th.
MYRG stock traded down $0.98 during midday trading on Friday, hitting $31.73. The stock had a trading volume of 29,085 shares, compared to its average volume of 92,026. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $563.68, a price-to-earnings ratio of 25.76 and a beta of 0.45. MYR Group has a 52 week low of $23.00 and a 52 week high of $43.49.
In related news, Chairman William A. Koertner sold 20,978 shares of MYR Group stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $35.18, for a total transaction of $738,006.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new position in MYR Group in the 4th quarter valued at $201,000. Crossmark Global Holdings Inc. acquired a new position in MYR Group in the 3rd quarter valued at $207,000. Leucadia National Corp acquired a new position in MYR Group in the 4th quarter valued at $225,000. Municipal Employees Retirement System of Michigan raised its holdings in MYR Group by 40.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 2,290 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in MYR Group in the 4th quarter valued at $236,000. 89.25% of the stock is owned by institutional investors and hedge funds.
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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 and the renewable energy industries.
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