MYR Group Stock Rating Lowered by FBR Capital Markets (MYRG)
MYR Group (NASDAQ:MYRG) was downgraded by investment analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday. They currently have a $27.00 price objective on the stock, down from their previous price objective of $30.00. FBR Capital Markets’ price target would suggest a potential upside of 16.33% from the company’s current price.
Separately, 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.82.
MYR Group (NASDAQ:MYRG) traded down 5.27% on Friday, hitting $23.21. The stock had a trading volume of 495,489 shares. MYR Group has a one year low of $21.72 and a one year high of $27.30. The stock’s 50-day moving average is $25.2 and its 200-day moving average is $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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts expect that MYR Group will post $1.51 EPS for the current fiscal year.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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