MYR Group Inc. (MYRG) Trading Up 4.3%
MYR Group Inc. (NASDAQ:MYRG) shares were up 4.3% during mid-day trading on Thursday . The stock traded as high as $26.25 and last traded at $25.98, with a volume of 95,755 shares trading hands. The stock had previously closed at $24.90.
Several research analysts have recently issued reports on MYRG shares. Zacks Investment Research cut shares of MYR Group from a “hold” rating to a “strong sell” rating in a report on Thursday, June 23rd. Canaccord Genuity started coverage on shares of MYR Group in a report on Monday, April 11th. They issued a “buy” rating and a $27.00 price objective for the company. FBR & Co reiterated a “hold” rating on shares of MYR Group in a report on Tuesday, May 10th. Finally, Maxim Group decreased their price objective on shares of MYR Group from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, May 9th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.33.
The firm has a 50 day moving average price of $24.67 and a 200 day moving average price of $23.61. The firm has a market capitalization of $501.22 million and a PE ratio of 25.68.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $261.90 million for the quarter, compared to the consensus estimate of $279.96 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts predict that MYR Group Inc. will post $1.14 EPS for the current fiscal year.
In other news, Director Larry F. Altenbaumer sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $23.97, for a total transaction of $191,760.00. Following the completion of the transaction, the director now directly owns 28,062 shares of the company’s stock, valued at approximately $672,646.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently bought a new stake in MYR Group stock. Dean Investment Associates LLC acquired a new position in MYR Group Inc. (NASDAQ:MYRG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 197,210 shares of the company’s stock, valued at approximately $4,064,000. Dean Investment Associates LLC owned 0.96% of MYR Group as of its most recent SEC filing.
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). T&D customers include investor-owned utilities, cooperatives, private developers government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors.
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