MYR Group (NASDAQ:MYRG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the company. B. Riley raised their price target on MYR Group from $21.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Stifel Nicolaus reduced their price objective on MYR Group from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. ValuEngine cut MYR Group from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. Zacks Investment Research cut MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 3rd. Finally, Robert W. Baird cut MYR Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $30.00 in a research report on Friday, April 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.75.

Shares of MYRG stock opened at $32.12 on Wednesday. MYR Group has a 1-year low of $16.33 and a 1-year high of $38.14. The stock’s 50-day moving average is $28.59 and its 200 day moving average is $28.30. The company has a market cap of $521.77 million, a P/E ratio of 13.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.66 and a quick ratio of 1.66.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $518.47 million for the quarter, compared to the consensus estimate of $545.66 million. MYR Group had a return on equity of 11.27% and a net margin of 1.90%. On average, analysts anticipate that MYR Group will post 2.45 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in MYR Group during the first quarter valued at approximately $149,000. BNP Paribas Arbitrage SA raised its position in MYR Group by 49.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,444 shares of the utilities provider’s stock valued at $169,000 after acquiring an additional 2,131 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in MYR Group during the first quarter valued at approximately $178,000. Advisors Asset Management Inc. raised its position in MYR Group by 1,180.7% during the fourth quarter. Advisors Asset Management Inc. now owns 7,223 shares of the utilities provider’s stock valued at $235,000 after acquiring an additional 6,659 shares in the last quarter. Finally, Jefferies Group LLC purchased a new position in MYR Group during the fourth quarter valued at approximately $246,000. Institutional investors own 90.14% 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.

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