MYR Group (NASDAQ:MYRG) Upgraded at Piper Sandler

Piper Sandler upgraded shares of MYR Group (NASDAQ:MYRG) to a hold rating in a research report released on Monday,Zacks.com reports.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus lowered their price target on shares of MYR Group from $157.00 to $131.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird cut their price target on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp raised MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price objective for the company in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.60.

MYR Group Trading Down 4.7 %

NASDAQ MYRG traded down $5.42 on Monday, reaching $109.70. The stock had a trading volume of 31,833 shares, compared to its average volume of 207,704. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 47.71 and a beta of 1.07. MYR Group has a 12-month low of $86.60 and a 12-month high of $172.73. The stock has a fifty day moving average price of $123.38 and a two-hundred day moving average price of $134.10.

Institutional Trading of MYR Group

A number of hedge funds have recently made changes to their positions in MYRG. MCF Advisors LLC grew its holdings in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in MYR Group in the fourth quarter worth $47,000. Smartleaf Asset Management LLC increased its stake in MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 286 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of MYR Group by 85.4% during the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 210 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.