MYR Group Rises On Unusually High Volume (MYRG)
NEW YORK (TheStreet) -- MYR Group (Nasdaq:MYRG) is trading at unusually high volume Tuesday with 810,890 shares changing hands. It is currently at 4.2 times its average daily volume and trading up 41 cents (+2.6%) at $16.11 as of 4 p.m. ET. MYR Group has a market cap of $325.2 million and is part of the industrial goods sector and materials & construction industry. Shares are down 18% year to date as of the close of trading on Monday. MYR Group Inc., through its subsidiaries, provides electrical construction service in the continental United States. The company operates in two segments, Transmission and Distribution, and Commercial and Industrial. The company has a P/E ratio of 16.7, equal to the average materials & construction industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates MYR Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full MYR Group Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.
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