MYR Group (NASDAQ:MYRG) Price Target Lowered to $180.00 at Robert W. Baird

MYR Group (NASDAQ:MYRG) had its price objective lowered by Robert W. Baird from $185.00 to $180.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s price objective points to a potential upside of 9.21% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on MYRG. Sidoti cut shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research note on Monday, February 26th. Stifel Nicolaus lowered their price target on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Finally, KeyCorp started coverage on shares of MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.25.

MYR Group Stock Down 0.9 %

Shares of MYR Group stock opened at $164.82 on Thursday. The company has a market cap of $2.76 billion, a P/E ratio of 30.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. MYR Group has a one year low of $110.87 and a one year high of $181.02. The firm has a fifty day moving average of $165.89 and a two-hundred day moving average of $146.38.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. MYR Group’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, analysts forecast that MYR Group will post 6.64 earnings per share for the current year.

Institutional Investors Weigh In On MYR Group

A number of large investors have recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC grew its stake in MYR Group by 0.9% in the 1st quarter. Moloney Securities Asset Management LLC now owns 8,155 shares of the utilities provider’s stock valued at $1,441,000 after acquiring an additional 75 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in MYR Group by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,973 shares of the utilities provider’s stock valued at $3,884,000 after acquiring an additional 131 shares during the last quarter. BNP Paribas Financial Markets grew its stake in MYR Group by 22.3% in the 1st quarter. BNP Paribas Financial Markets now owns 15,723 shares of the utilities provider’s stock valued at $2,779,000 after acquiring an additional 2,871 shares during the last quarter. Townsend & Associates Inc grew its stake in MYR Group by 0.5% in the 1st quarter. Townsend & Associates Inc now owns 96,111 shares of the utilities provider’s stock valued at $15,799,000 after acquiring an additional 492 shares during the last quarter. Finally, HMS Capital Management LLC acquired a new stake in MYR Group in the 1st quarter valued at about $431,000. 88.90% of the stock is owned by institutional investors and hedge funds.

About MYR Group

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.