Recent extremely meaningful negative changes in investment behavior have impacted MYR Group Inc (NASDAQ: MYRG): its longer term price trend turned down, and negative upside/downside volume developed.
MYR Group Inc (NASDAQ: MYRG) has recently experienced significant negative changes in fundamentals: the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
MYRG is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
MYR Group has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. MYR Group has a slightly negative Appreciation Score of 39 but a good Power Rating of 72, triggering the Neutral Value Trend Rating.
Recent Price Action
MYR Group Inc (NASDAQ: MYRG) stock enjoyed a large increase of 2.2% on 7/3/24. The stock closed at $135.43. NORMAL trading volume accompanied the advance. The stock has been strong relative to the market over the last nine months but has declined -2.5% during the last week.
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