The stock of MYR Group Inc (NASDAQ:MYRG) reached all time high today, Nov, 16 and still has $62.50 target or 69.00% above today’s $36.98 share price. This indicates more upside for the $602.42M company. This technical setup was reported by Barchart.com. If the $62.50 PT is reached, the company will be worth $415.67 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 68,345 shares traded hands. MYR Group Inc (NASDAQ:MYRG) has risen 46.69% since April 14, 2016 and is uptrending. It has outperformed by 42.00% the S&P500.
MYR Group Inc (NASDAQ:MYRG) Ratings Coverage
Out of 6 analysts covering MYR Group (NASDAQ:MYRG), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. MYR Group has been the topic of 9 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Zacks given on Tuesday, August 11. The stock has “Mkt Perform” rating given by FBR Capital on Friday, November 6. The firm has “Hold” rating by Stifel Nicolaus given on Tuesday, January 5. BB&T Capital downgraded the shares of MYRG in a report on Friday, October 2 to “Hold” rating. The rating was maintained by FBR Capital on Tuesday, March 8 with “Market Perform”. The stock of MYR Group Inc (NASDAQ:MYRG) has “Buy” rating given on Friday, August 5 by Maxim Group. The stock of MYR Group Inc (NASDAQ:MYRG) earned “Neutral” rating by Robert W. Baird on Friday, August 12.
According to Zacks Investment Research, “MYR GROUP INC. is a holding Company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and distribution customers include electric utilities, cooperatives and municipalities. The Company also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. MYR Group’s comprehensive services include turn-key construction and maintenance services for the nation’s electrical infrastructure.”
Insitutional Activity: The institutional sentiment decreased to 0.65 in 2016 Q2. Its down 0.37, from 1.02 in 2016Q1. The ratio dived, as 16 funds sold all MYR Group Inc shares owned while 55 reduced positions. 19 funds bought stakes while 27 increased positions. They now own 14.42 million shares or 10.92% less from 16.19 million shares in 2016Q1.
Third Avenue Mgmt Ltd last reported 116,310 shares in the company. The North Carolina-based Sheets Smith Wealth Mgmt has invested 0.06% in MYR Group Inc (NASDAQ:MYRG). Prudential Financial last reported 0.01% of its portfolio in the stock. First Mercantile Company accumulated 0.01% or 3,600 shares. Waddell And Reed Financial holds 0.01% or 229,100 shares in its portfolio. Employees Retirement Association Of Colorado accumulated 0% or 5,376 shares. Metropolitan Life Communication Ny has 0% invested in the company for 14,070 shares. Panagora Asset Mngmt holds 0% of its portfolio in MYR Group Inc (NASDAQ:MYRG) for 1,623 shares. Kbc Grp Nv reported 12,333 shares or 0% of all its holdings. Pinebridge Invs L P last reported 0% of its portfolio in the stock. The California-based Schwab Charles Mgmt has invested 0% in MYR Group Inc (NASDAQ:MYRG). Fisher Asset Mgmt Limited Com last reported 120,217 shares in the company. Shell Asset Company accumulated 61,138 shares or 0.03% of the stock. Victory Mngmt has 0% invested in the company for 34,767 shares. Blackrock Ltd has invested 0% of its portfolio in MYR Group Inc (NASDAQ:MYRG).
Insider Transactions: Since August 18, 2016, the stock had 0 insider buys, and 9 insider sales for $6.09 million net activity. KOERTNER WILLIAM A sold $310,000 worth of stock. The insider Engen Gerald B. Jr. sold $1.04M. Another trade for 9,212 shares valued at $264,845 was made by COOPER TOD M. on Thursday, August 18. Another trade for 32,000 shares valued at $1.08 million was made by Swartz Richard S. Jr. on Thursday, November 10. Alexander Jack L. had sold 8,000 shares worth $288,449 on Monday, November 14.
More important recent MYR Group Inc (NASDAQ:MYRG) news were published by: Prnewswire.com which released: “Engine Capital Delivers Letter to MYR Group Inc. Board of Directors” on December 08, 2015, also Globenewswire.com published article titled: “MYR Group Inc. Acquires British Columbia Electrical Contractor Western Pacific …”, Globenewswire.com published: “MYR Group Inc. Announces Third-Quarter and First Nine-Months 2016 Results” on November 02, 2016. More interesting news about MYR Group Inc (NASDAQ:MYRG) was released by: Benzinga.com and their article: “No More Proxy Fight For MYR Group” with publication date: March 23, 2016.
MYRG Company Profile
MYR Group Inc., incorporated on January 15, 1982, is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Firm performs construction services in two divisions: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Firm provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States. The Company’s subsidiaries include The L. E. Myers Co., Harlan Electric Company, Great Southwestern Construction, Inc., Sturgeon Electric Company, Inc., MYR Transmission Services, Inc., E.S. Boulos Company, High Country Line Construction, Inc., MYR Group Construction Canada, Ltd., MYR Transmission Services Canada, Ltd. and Northern Transmission Services, Ltd. The Firm provides electrical construction services, and limited gas construction services, through a network of local offices located throughout the United States and Canada.
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