Insider Buying: MYR Group CFO Acquires 1,000 Shares of Stock (MYRG)
MYR Group (NASDAQ:MYRG) CFO Paul J. Evans purchased 1,000 shares of MYR Group stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $23.15 per share, with a total value of $23,150.00. Following the transaction, the chief financial officer now directly owns 20,465 shares of the company’s stock, valued at approximately $473,765. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MYRG. Analysts at Zacks downgraded shares of MYR Group from an “outperform” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $27.90 price target on the stock. Separately, 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, August 8th. They now have a $27.00 price target on the stock, down previously from $30.00. Finally, analysts at Robert W. Baird upgraded shares of MYR Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 5th. 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $27.82.
Shares of MYR Group (NASDAQ:MYRG) traded up 0.43% on Friday, hitting $23.24. The stock had a trading volume of 95,979 shares. MYR Group has a 52 week low of $21.72 and a 52 week high of $27.30. The stock’s 50-day moving average is $25.06 and its 200-day moving average is $24.62. The company has a market cap of $495.8 million and a price-to-earnings ratio of 15.54.
MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results 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 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 $1.42 EPS for the current fiscal year.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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