MYR Group Rating Lowered to Neutral at Zacks (MYRG)
MYR Group (NASDAQ:MYRG) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Friday. They currently have a $27.90 target price on the stock. Zacks‘s target price would suggest a potential upside of 20.21% from the stock’s previous close.
MYR Group (NASDAQ:MYRG) traded down 5.27% during mid-day trading on Friday, hitting $23.21. The stock had a trading volume of 495,489 shares. MYR Group has a 1-year low of $21.72 and a 1-year high of $27.30. The stock has a 50-day moving average of $25.2 and a 200-day moving average of $24.68. The company has a market cap of $495.1 million and a price-to-earnings ratio of 16.45.
MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.05. The company had revenue of $228.90 million for the quarter, compared to the consensus estimate of $228.90 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that MYR Group will post $1.51 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MYRG. Analysts at FBR Capital Markets downgraded shares of MYR Group from an “outperform” rating to a “market perform” rating in a research note on Friday. They now have a $27.00 price target on the stock, down previously from $30.00. Analysts at Robert W. Baird upgraded shares of MYR Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $30.00 price target on the stock, up previously from $27.00. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.82.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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