BidaskClub cut shares of MYR Group (NASDAQ:MYRG) from a strong-buy rating to a buy rating in a research note published on Friday morning.
A number of other equities research analysts have also commented on the stock. KeyCorp reaffirmed a hold rating on shares of MYR Group in a research note on Friday, November 24th. TheStreet raised shares of MYR Group from a c+ rating to a b- rating in a research note on Thursday, November 16th. B. Riley upped their price objective on shares of MYR Group from $28.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, November 16th. Zacks Investment Research raised shares of MYR Group from a strong sell rating to a hold rating in a research note on Wednesday, November 8th. Finally, Robert W. Baird upped their price objective on shares of MYR Group from $34.00 to $35.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $32.40.
Shares of MYR Group (NASDAQ MYRG) opened at $35.21 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.84. MYR Group has a 12 month low of $23.00 and a 12 month high of $43.77. The company has a market cap of $579.63, a price-to-earnings ratio of 37.86 and a beta of 0.47.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in MYR Group by 4.2% during the second quarter. BNP Paribas Arbitrage SA now owns 5,424 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 217 shares in the last quarter. Sei Investments Co. bought a new position in MYR Group during the second quarter worth $170,000. Crossmark Global Holdings Inc. bought a new position in MYR Group during the third quarter worth $207,000. Louisiana State Employees Retirement System boosted its stake in MYR Group by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the utilities provider’s stock worth $208,000 after acquiring an additional 200 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in MYR Group by 40.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock worth $234,000 after acquiring an additional 2,290 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.
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About MYR Group
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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