Robert W. Baird Cuts MYR Group (NASDAQ:MYRG) Price Target to $159.00

MYR Group (NASDAQ:MYRG) had its price objective reduced by investment analysts at Robert W. Baird from $201.00 to $159.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s target price indicates a potential upside of 26.33% from the stock’s current price.

MYRG has been the subject of a number of other research reports. StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group lifted their price target on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus lifted their price target on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

MYR Group Stock Performance

Shares of MYR Group stock opened at $125.87 on Thursday. MYR Group has a one year low of $86.60 and a one year high of $181.02. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 54.96 and a beta of 0.94. The business has a 50-day simple moving average of $143.37 and a 200 day simple moving average of $130.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35.

Hedge Funds Weigh In On MYR Group

A number of hedge funds and other institutional investors have recently modified their holdings of MYRG. MCF Advisors LLC boosted its stake 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 position in shares of MYR Group in the 4th quarter worth approximately $47,000. Smartleaf Asset Management LLC boosted its stake in shares of MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC boosted its stake 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. Finally, ANTIPODES PARTNERS Ltd boosted its stake in shares of 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 buying an additional 72 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.