MYR Group (NASDAQ:MYRG) Raised to Overweight at KeyCorp

MYR Group (NASDAQ:MYRG) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $136.00 price objective on the utilities provider’s stock. KeyCorp’s price objective would suggest a potential upside of 16.03% from the stock’s previous close. KeyCorp also issued estimates for MYR Group’s Q1 2025 earnings at $1.14 EPS.

Several other equities research analysts have also recently weighed in on MYRG. Robert W. Baird dropped their target price on MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus raised their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Stock Performance

MYR Group stock opened at $117.21 on Friday. The firm has a fifty day simple moving average of $135.18 and a two-hundred day simple moving average of $131.53. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group has a twelve month low of $86.60 and a twelve month high of $181.02. The company has a market capitalization of $1.89 billion, a PE ratio of 51.18 and a beta of 0.93.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. MCF Advisors LLC grew its position in shares of MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in MYR Group in the fourth quarter worth $47,000. Smartleaf Asset Management LLC lifted its stake in MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 286 shares during the period. GAMMA Investing LLC increased its position in MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its holdings in MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Company Profile

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.