MYR Group Stock Hits New 52-Week High (MYRG)

NEW YORK ( TheStreet) -- MYR Group (Nasdaq: MYRG) hit a new 52-week high Thursday as it traded at $23.25 compared with its previous 52-Week high of $23.21. MYR Group is changing hands at $23.25 with 14,593 shares traded as of 9:52 a.m. ET. Average volume has been 162,900 shares over the past 30 days. MYR Group has a market cap of $444.2 million and is part of the industrial goods sector and materials & construction industry. Shares are up 9.7% year to date as of the close of trading on Wednesday.

MYR Group Inc., through its subsidiaries, provides utility and electrical construction services in the continental United States. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The company has a P/E ratio of 32.7, equal to the average materials & construction industry P/E ratio and above the S&P 500 P/E ratio of 23.3.

TheStreet Ratings rates MYR Group as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full MYR Group Ratings Report.

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