MYR Group (MYRG) Receives a Buy from Canaccord Genuity


In a report released today, Robert Burleson from Canaccord Genuity maintained a Buy rating on MYR Group (NASDAQ: MYRG), with a price target of $42. The company’s shares opened today at $34.51.

According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.0% and a 59.8% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.

MYR Group has an analyst consensus of Moderate Buy, with a price target consensus of $40, representing a 15.9% upside. In a report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $39 price target.

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MYR Group’s market cap is currently $606.7M and has a P/E ratio of 23.89. The company has a Price to Book ratio of 2.07.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, William Koertner, a Director at MYRG sold 10,832 shares for a total of $419,025.

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.

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