MYR Group Inc [NASDAQ: MYRG] loss -0.63% or -1.0 points to close at $157.77 with a heavy trading volume of 129868 shares.
The daily chart for MYRG points out that the company has recorded 0.04% gains over the past six months.
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If we look at the average trading volume of 229.69K shares, MYRG reached to a volume of 129868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about MYR Group Inc [MYRG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MYRG shares is $159.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MYRG stock is a recommendation set at 1.75. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Sidoti have made an estimate for MYR Group Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 26, 2024. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on January 10, 2024, representing the official price target for MYR Group Inc stock. Previously, the target price had yet another raise to $164, while Goldman analysts kept a Buy rating on MYRG stock.
The Average True Range (ATR) for MYR Group Inc is set at 5.97, with the Price to Sales ratio for MYRG stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 4.32, with the Price to Cash per share for the same quarter was set at 0.47. Price to Free Cash Flow for MYRG in the course of the last twelve months was 105.80 with Quick ratio for the last quarter at 1.35.
Trading performance analysis for MYRG stock
MYR Group Inc [MYRG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.46. With this latest performance, MYRG shares gained by 35.47% in over the last four-week period, additionally plugging by 0.04% over the last 6 months – not to mention a rise of 27.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MYRG stock in for the last two-week period is set at 70.76, with the RSI for the last a single of trading hit 71.30, and the three-weeks RSI is set at 69.55 for MYR Group Inc [MYRG]. The present Moving Average for the last 50 days of trading for this stock 125.38, while it was recorded at 155.02 for the last single week of trading, and 138.02 for the last 200 days.
MYR Group Inc [MYRG]: A deeper dive into fundamental analysis
MYR Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.35 and a Current Ratio set at 1.35.
MYR Group Inc [MYRG]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MYRG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MYR Group Inc go to 10.00%.
An analysis of Institutional ownership at MYR Group Inc [MYRG]
There are presently around $96.02%, or 98.39%% of MYRG stock, in the hands of institutional investors. The top three institutional holders of MYRG stocks are: BLACKROCK INC. with ownership of 2.9 million shares, which is approximately 17.3581%. VANGUARD GROUP INC, holding 1.14 million shares of the stock with an approximate value of $$154.05 million in MYRG stocks shares; and VANGUARD GROUP INC, currently with $$141.01 million in MYRG stock with ownership which is approximately 6.2178%.
