MYR Group Inc. (MYRG) Just Reaches 52-Week High?

May 17, 2018 - By Jason Grubb

MYR Group Inc. (NASDAQ:MYRG) Logo

Investors sentiment decreased to 0.81 in 2017 Q4. Its down 0.42, from 1.23 in 2017Q3. It dropped, as 17 investors sold MYR Group Inc. shares while 50 reduced holdings. 18 funds opened positions while 36 raised stakes. 14.13 million shares or 3.76% more from 13.62 million shares in 2017Q3 were reported.
Parallax Volatility Advisers Limited Partnership invested 0% in MYR Group Inc. (NASDAQ:MYRG). Bankshares Of America De reported 0% in MYR Group Inc. (NASDAQ:MYRG). Leucadia National Corp owns 6,294 shares or 0.02% of their US portfolio. Victory Management has invested 0.06% in MYR Group Inc. (NASDAQ:MYRG). Savings Bank Of Montreal Can holds 0% or 830 shares in its portfolio. Swiss Financial Bank has 0% invested in MYR Group Inc. (NASDAQ:MYRG) for 27,200 shares. Fisher Asset Mngmt Limited Liability owns 113,081 shares. Moreover, Aqr Capital Management Limited Liability Co has 0% invested in MYR Group Inc. (NASDAQ:MYRG). Rmb Mngmt Ltd Liability, Illinois-based fund reported 113,939 shares. Great West Life Assurance Company Can reported 0% in MYR Group Inc. (NASDAQ:MYRG). 660,213 were accumulated by Inv Counselors Of Maryland Lc. State Of Alaska Department Of Revenue reported 0% stake. State Board Of Administration Of Florida Retirement Sys owns 44,486 shares or 0% of their US portfolio. 39,172 are owned by Morgan Dempsey Cap Mgmt Limited Liability. Goldman Sachs Group Inc Incorporated accumulated 45,011 shares or 0% of the stock.

Since March 16, 2018, it had 0 buys, and 4 insider sales for $2.17 million activity. The insider Waneka Jeffrey J. sold $37,734.

The stock of MYR Group Inc. (NASDAQ:MYRG) hit a new 52-week high and has $39.81 target or 3.00 % above today’s $38.65 share price. The 5 months bullish chart indicates low risk for the $637.61 million company. The 1-year high was reported on May, 17 by Barchart.com. If the $39.81 price target is reached, the company will be worth $19.13M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.23% or $0.09 during the last trading session, reaching $38.65. About 26,111 shares traded. MYR Group Inc. (NASDAQ:MYRG) has declined 22.82% since May 17, 2017 and is downtrending. It has underperformed by 34.37% the S&P500.

Analysts await MYR Group Inc. (NASDAQ:MYRG) to report earnings on August, 1. They expect $0.43 earnings per share, up 514.29 % or $0.36 from last year’s $0.07 per share. MYRG’s profit will be $7.09M for 22.47 P/E if the $0.43 EPS becomes a reality. After $0.29 actual earnings per share reported by MYR Group Inc. for the previous quarter, Wall Street now forecasts 48.28 % EPS growth.

MYR Group Inc. (NASDAQ:MYRG) Ratings Coverage

Among 5 analysts covering MYR Group (NASDAQ:MYRG), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. MYR Group had 9 analyst reports since December 6, 2017 according to SRatingsIntel. The stock has “Buy” rating by Robert W. Baird on Wednesday, December 6. The firm earned “Hold” rating on Friday, March 9 by FBR Capital. The firm earned “Outperform” rating on Thursday, March 8 by Robert W. Baird. The firm has “Hold” rating by Oppenheimer given on Monday, March 12. Robert W. Baird maintained MYR Group Inc. (NASDAQ:MYRG) rating on Monday, April 9. Robert W. Baird has “Buy” rating and $3900 target. The rating was maintained by Stifel Nicolaus with “Hold” on Sunday, December 10. Canaccord Genuity maintained the shares of MYRG in report on Thursday, March 8 with “Buy” rating. The firm has “Buy” rating given on Wednesday, January 3 by Robert W. Baird. Stifel Nicolaus maintained MYR Group Inc. (NASDAQ:MYRG) rating on Wednesday, March 28. Stifel Nicolaus has “Hold” rating and $3500 target.

More notable recent MYR Group Inc. (NASDAQ:MYRG) news were published by: Benzinga.com which released: “37 Stocks Moving In Thursday’s Mid-Day Session” on May 03, 2018, also Seekingalpha.com with their article: “MYR Group’s (MYRG) CEO Richard Swartz on Q1 2018 Results – Earnings Call Transcript” published on May 03, 2018, Benzinga.com published: “55 Biggest Movers From Yesterday” on May 04, 2018. More interesting news about MYR Group Inc. (NASDAQ:MYRG) were released by: Nasdaq.com and their article: “MYR Group Inc. Announces First-Quarter 2018 Earnings Release and Conference Call Schedule” published on April 25, 2018 as well as Globenewswire.com‘s news article titled: “MYR Group Inc. Announces First-Quarter 2018 Results” with publication date: May 02, 2018.

MYR Group Inc., through its subsidiaries, provides electrical construction services in the United States and Canada. The company has market cap of $637.61 million. It operates in two divisions, Transmission and Distribution, and Commercial and Industrial. It has a 30.2 P/E ratio. 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 clients in the electric utility and the renewable energy industries.

MYR Group Inc. (NASDAQ:MYRG) Institutional Positions Chart

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