Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for MYR Group Inc (NASDAQ: MYRG) weakened during the last several trading days. MYRG’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
On 9/13/24, MYR Group Inc (NASDAQ: MYRG) stock enjoyed a large increase of 3.9%, closing at $98.19. However, trading volume in this advance was unusually low at 57% of normal. Relative to the market the stock has been weak over the last nine months but has risen 8.5% during the last week.
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 D (Negative). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. MYR Group has a neutral Appreciation Score of 49 but a poor Power Rating of 24, and the Negative Value Trend Rating results.
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