A number of research firms have changed their ratings and price targets for MYR Group (NASDAQ: MYRG):

  • 9/8/2017 – MYR Group had its “hold” rating reaffirmed by analysts at KeyCorp.
  • 9/6/2017 – MYR Group had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $29.00 price target on the stock, down previously from $36.00.
  • 9/5/2017 – MYR Group had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $34.00 price target on the stock.
  • 8/29/2017 – MYR Group had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $36.00 price target on the stock.
  • 8/18/2017 – MYR Group had its price target lowered by analysts at FBR & Co from $37.00 to $28.00. They now have a “market perform” rating on the stock.
  • 8/5/2017 – MYR Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “MYR GROUP INC. is a holding Company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and distribution customers include electric utilities, cooperatives and municipalities. The Company also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. MYR Group’s comprehensive services include turn-key construction and maintenance services for the nation’s electrical infrastructure. “
  • 8/4/2017 – MYR Group had its price target lowered by analysts at Canaccord Genuity from $47.00 to $35.00. They now have a “buy” rating on the stock.
  • 7/18/2017 – MYR Group was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “MYR GROUP INC. is a holding Company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and distribution customers include electric utilities, cooperatives and municipalities. The Company also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. MYR Group’s comprehensive services include turn-key construction and maintenance services for the nation’s electrical infrastructure. “

MYR Group, Inc. (NASDAQ MYRG) opened at 26.92 on Friday. The firm has a market capitalization of $443.94 million, a price-to-earnings ratio of 26.73 and a beta of 0.34. MYR Group, Inc. has a 52 week low of $23.00 and a 52 week high of $43.77. The firm has a 50-day moving average price of $26.02 and a 200 day moving average price of $32.79.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.27). The business had revenue of $356.20 million during the quarter, compared to the consensus estimate of $310.57 million. MYR Group had a return on equity of 6.28% and a net margin of 1.28%. MYR Group’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that MYR Group, Inc. will post $0.88 earnings per share for the current fiscal year.

In other news, VP Gerald B. Jr. Engen sold 1,210 shares of MYR Group stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $31.01, for a total value of $37,522.10. Following the sale, the vice president now directly owns 68,185 shares in the company, valued at approximately $2,114,416.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Gerald B. Jr. Engen sold 10,000 shares of MYR Group stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the vice president now owns 48,295 shares in the company, valued at $1,545,440. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,000 shares of company stock worth $632,034. Corporate insiders own 5.00% of the company’s stock.

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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