Shares of MYR Group, Inc. (NASDAQ:MYRG) have been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.50.

Several equities research analysts have recently weighed in on MYRG shares. FBR & Co reiterated an “outperform” rating and set a $37.00 price target (down from $45.00) on shares of MYR Group in a research report on Tuesday, May 16th. Robert W. Baird upgraded MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Friday, May 5th. TheStreet cut MYR Group from a “b-” rating to a “c” rating in a research report on Tuesday, May 30th. Finally, Zacks Investment Research upgraded MYR Group from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, March 14th.

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In other MYR Group news, VP Gerald B. Jr. Engen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the vice president now owns 68,295 shares of the company’s stock, valued at $2,048,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Michael Hartwick bought 1,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average cost of $29.78 per share, with a total value of $29,780.00. Following the purchase, the director now owns 2,625 shares of the company’s stock, valued at $78,172.50. The disclosure for this purchase can be found here. 5.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of MYR Group by 266.8% in the first quarter. LS Investment Advisors LLC now owns 2,520 shares of the utilities provider’s stock valued at $103,000 after buying an additional 1,833 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of MYR Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,757 shares of the utilities provider’s stock valued at $154,000 after buying an additional 246 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of MYR Group during the first quarter valued at about $156,000. Capital Fund Management S.A. purchased a new stake in shares of MYR Group during the first quarter valued at about $238,000. Finally, SG Americas Securities LLC raised its stake in shares of MYR Group by 3.7% in the first quarter. SG Americas Securities LLC now owns 6,587 shares of the utilities provider’s stock valued at $270,000 after buying an additional 233 shares in the last quarter. 88.74% of the stock is owned by institutional investors and hedge funds.

Shares of MYR Group (NASDAQ MYRG) traded down 1.25% during midday trading on Tuesday, reaching $30.10. 96,488 shares of the company’s stock were exchanged. MYR Group has a 12 month low of $21.84 and a 12 month high of $43.77. The firm has a 50 day moving average price of $30.07 and a 200 day moving average price of $36.81. The company has a market cap of $495.87 million, a P/E ratio of 24.27 and a beta of 0.35.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.22. MYR Group had a net margin of 1.74% and a return on equity of 8.08%. The company had revenue of $300.13 million for the quarter, compared to the consensus estimate of $300.97 million. Equities research analysts forecast that MYR Group will post $1.37 earnings per share for the current fiscal year.

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.

Analyst Recommendations for MYR Group (NASDAQ:MYRG)

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