MYR Group Gets a Hold Rating from Stifel Nicolaus

By Austin Angelo

Stifel Nicolaus analyst Robert McCarthy reiterated a Hold rating on MYR Group (NASDAQ: MYRG) yesterday and set a price target of $36. The company’s shares opened today at $24.06, close to its 52-week high of $43.77.

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 9.3% and a 66.7% success rate. McCarthy covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Emerson Electric Company, and United Technologies Corp.

Currently, the analyst consensus on MYR Group is Moderate Buy and the average price target is $33.25, representing a 38.2% upside.

In a report issued on August 18, FBR Capital also maintained a Hold rating on the stock with a $28 price target.

The company has a one year high of $43.77 and a one year low of $23. Currently, MYR Group has an average volume of 88.15K.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MYRG in relation to earlier this year. Earlier this month, Kenneth Michael Hartwick, a Director at MYRG bought 634 shares for a total of $20,149.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MYR Group, Inc. is a holding company, which engages in the provision of electrical construction services. It operates through the Transmission and Distribution; and Commercial and Industrial segments.