MYR Group Inc (MYRG) was Downgraded by Robert W. Baird to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 30 from a previous price target of $27 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 12, 2016.
Many Wall Street Analysts have commented on MYR Group Inc. Company shares were Reiterated by Maxim Group on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $28 .
On the company’s financial health, MYR Group Inc reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $261.90 million for the quarter, compared to analysts expectations of $280.52 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.
MYR Group Inc opened for trading at $27.5 and hit $28.16 on the upside on Monday, eventually ending the session at $27.6, with a gain of 0.36% or 0.1 points. The heightened volatility saw the trading volume jump to 2,37,855 shares. Company has a market cap of $503 M.
In a different news, on Sep 14, 2015, William H. Green (Senior VP) sold 32,000 shares at $27.02 per share price. According to the SEC, on Mar 30, 2015, William A Koertner (Chairman, President and CEO) sold 19,732 shares at $32.00 per share price. On Mar 16, 2015, Richard S. Jr. Swartz (COO and Senior VP) sold 11,577 shares at $28.19 per share price, according to the Form-4 filing with the securities and exchange commission.
MYR Group Inc. is a holding company which provides specialty electrical construction services through its subsidiaries. The Company performs construction services in two business segments: Transmission and Distribution (T&D) and Commercial and Industrial (C&I). T&D segment provides solutions to customers in the electric utility industry and the renewable energy industry. The Company also provides C&I electrical contracting services to property owners and general contractors in the western United States. The Company’s wholly owned subsidiaries include The L. E. Myers Co. Harlan Electric Company Hawkeye Construction Inc. Great Southwestern Construction Inc. Sturgeon Electric Company Inc. MYR Transmission Services Inc. MYR Group Construction Canada Ltd. MYR Transmission Services Canada Ltd. and Northern Transmission Services Ltd. The Company also provides electrical construction services and limited gas construction services.