MYR Group (NASDAQ:MYRG) Stock

MYR Group

MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.

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MYRG

Investors in MYR Group Inc. (NASDAQ: MYRG) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $125 Call had some of the highest implied volatility of all equity options today.

Is the Options Market Predicting a Spike in MYR Group Stock?

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MYR Group Inc

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MYR Group shares are trading higher after Stifel maintained a Buy rating on the stock and raised its price target from $153 to $172.

Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) in the last three months.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $146.75, a high estimate of $172.00, and a low estimate of $124.00. This current average represents a 0.51% decrease from the previous average price target of $147.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1733932857_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The analysis of recent analyst actions sheds light on the perception of MYR Group by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brian Brophy</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$172.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Ati Modak</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$153.00</td>
<td>$124.00</td>
</tr>
<tr>
<td>Justin Hauke</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$138.00</td>
<td>$131.00</td>
</tr>
<tr>
<td>Ati Modak</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$124.00</td>
<td>$182.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to MYR Group. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of MYR Group compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for MYR Group's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of MYR Group's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/MYRG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on MYR Group analyst ratings.</a>
<h2>All You Need to Know About MYR Group</h2>
MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.
<h3>Financial Insights: MYR Group</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, MYR Group faced challenges, resulting in a decline of approximately -5.47% in revenue growth as of 30 September, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: MYR Group's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 1.2%, the company may face hurdles in effective cost management.
Return on Equity (ROE): MYR Group's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.74%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): MYR Group's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.67%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 0.23, MYR Group adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For MYR Group

Stifel analyst Brian Brophy maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and raises the price target from $153 to $172.

Price Target

Stifel Maintains Buy on MYR Group, Raises Price Target to $172

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Goldman Sachs analyst Ati Modak maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and raises the price target from $124 to $153.

Goldman Sachs Maintains Buy on MYR Group, Raises Price Target to $153

MYR Group shares are trading higher after the company reported better-than-expected Q3 EPS results. Also, Baird maintained an Outperform rating on the stock and raised its price target from $131 to $138.

<h3>Gainers</h3>
<ul>
<li>NEXTracker (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>) shares rose 24.1% to $39.67 during Thursday's regular session. The market value of their outstanding shares is at $5.7 billion. As per the news, the Q2 earnings report came out yesterday. </li>
<li>Paycom Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) shares rose 23.44% to $212.63. The company's market cap stands at $12.2 billion. The company's, Q3 earnings came out yesterday. </li>
<li>Nocera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCRA#NASDAQ">NCRA</a>) stock rose 20.98% to $1.21. The market value of their outstanding shares is at $16.5 million. </li>
<li>Orion Group Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) shares rose 17.52% to $6.37. The company's market cap stands at $248.1 million. The company's, Q3 earnings came out yesterday. </li>
<li>Armlogi Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTOC#NASDAQ">BTOC</a>) shares rose 16.27% to $6.93. The company's market cap stands at $288.5 million. </li>
<li>MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) shares rose 16.19% to $134.01. The company's market cap stands at $2.2 billion. As per the press release, Q3 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Stem (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) shares declined by 23.1% to $0.37 during Thursday's regular session. The company's market cap stands at $59.8 million. As per the press release, Q3 earnings came out yesterday. </li>
<li>Huntington Ingalls Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>) shares fell 22.23% to $194.82. The market value of their outstanding shares is at $7.6 billion. As per the news, the Q3 earnings report came out today. </li>
<li>MISTRAS Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MG#NYSE">MG</a>) shares decreased by 21.58% to $8.71. The market value of their outstanding shares is at $269.6 million. As per the press release, Q3 earnings came out yesterday. </li>
<li>Enovix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) shares decreased by 20.28% to $8.36. The market value of their outstanding shares is at $1.4 billion. The company's, Q3 earnings came out 2 days ago. </li>
<li>Enviri (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRI#NYSE">NVRI</a>) shares fell 19.73% to $8.06. The company's market cap stands at $645.7 million. As per the news, the Q3 earnings report came out today. </li>
<li>NN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNBR#NASDAQ">NNBR</a>) shares decreased by 19.14% to $3.17. The company's market cap stands at $158.5 million. As per the press release, Q3 earnings came out yesterday. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Baird analyst Justin Hauke maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Outperform and raises the price target from $131 to $138.

Baird Maintains Outperform on MYR Group, Raises Price Target to $138

MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.35 by 85.71 percent. The company reported quarterly sales of $888.043 million which missed the analyst consensus estimate of $917.177 million by 3.18 percent. This is a 5.47 percent decrease over sales of $939.476 million the same period last year.

Earnings Beats

Earnings Misses

MYR Group Q3 2024 GAAP EPS $0.65 Beats $0.35 Estimate, Sales $888.043M Miss $917.177M Estimate

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>JOBY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$6.00</td>
<td>$42.3K</td>
<td>2.2K</td>
<td>11.4K</td>
</tr>
<tr>
<td>GRAB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$4.50</td>
<td>$37.5K</td>
<td>450</td>
<td>5.5K</td>
</tr>
<tr>
<td>ACHR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.50</td>
<td>$75.2K</td>
<td>49.2K</td>
<td>2.6K</td>
</tr>
<tr>
<td>MMM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$140.00</td>
<td>$98.0K</td>
<td>290</td>
<td>1.4K</td>
</tr>
<tr>
<td>BA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/01/24</td>
<td>$160.00</td>
<td>$305.6K</td>
<td>377</td>
<td>973</td>
</tr>
<tr>
<td>LYFT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$15.00</td>
<td>$46.8K</td>
<td>320</td>
<td>274</td>
</tr>
<tr>
<td>ZIM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$24.00</td>
<td>$43.2K</td>
<td>1.0K</td>
<td>234</td>
</tr>
<tr>
<td>MYRG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$120.00</td>
<td>$106.8K</td>
<td>0</td>
<td>120</td>
</tr>
<tr>
<td>GEV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/01/24</td>
<td>$287.50</td>
<td>$38.3K</td>
<td>164</td>
<td>59</td>
</tr>
<tr>
<td>UPS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$130.00</td>
<td>$44.4K</td>
<td>1.1K</td>
<td>31</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For JOBY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>), we notice a call option sweep that happens to be bullish, expiring in 3 day(s) on October 25, 2024. This event was a transfer of 1058 contract(s) at a $6.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $42.3K, with a price of $40.0 per contract. There were 2214 open contracts at this strike prior to today, and today 11406 contract(s) were bought and sold. 
• Regarding GRAB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>), we observe a call option sweep with bearish sentiment. It expires in 59 day(s) on December 20, 2024. Parties traded 2500 contract(s) at a $4.50 strike. This particular call needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $37.5K, with a price of $15.0 per contract. There were 450 open contracts at this strike prior to today, and today 5532 contract(s) were bought and sold. 
• For ACHR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>), we notice a call option sweep that happens to be bearish, expiring in 87 day(s) on January 17, 2025. This event was a transfer of 2500 contract(s) at a $3.50 strike. This particular call needed to be split into 36 different trades to become filled. The total cost received by the writing party (or parties) was $75.2K, with a price of $30.0 per contract. There were 49222 open contracts at this strike prior to today, and today 2675 contract(s) were bought and sold. 
• For MMM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), we notice a put option sweep that happens to be bullish, expiring in 87 day(s) on January 17, 2025. This event was a transfer of 100 contract(s) at a $140.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $98.0K, with a price of $987.0 per contract. There were 290 open contracts at this strike prior to today, and today 1486 contract(s) were bought and sold. 
• For BA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), we notice a put option sweep that happens to be neutral, expiring in 10 day(s) on November 1, 2024. This event was a transfer of 597 contract(s) at a $160.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $305.6K, with a price of $512.0 per contract. There were 377 open contracts at this strike prior to today, and today 973 contract(s) were bought and sold. 
• Regarding LYFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), we observe a put option sweep with bearish sentiment. It expires in 24 day(s) on November 15, 2024. Parties traded 242 contract(s) at a $15.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $46.8K, with a price of $194.0 per contract. There were 320 open contracts at this strike prior to today, and today 274 contract(s) were bought and sold. 
• For ZIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>), we notice a call option trade that happens to be bullish, expiring in 24 day(s) on November 15, 2024. This event was a transfer of 200 contract(s) at a $24.00 strike. The total cost received by the writing party (or parties) was $43.2K, with a price of $216.0 per contract. There were 1001 open contracts at this strike prior to today, and today 234 contract(s) were bought and sold. 
• Regarding MYRG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>), we observe a put option trade with bullish sentiment. It expires in 59 day(s) on December 20, 2024. Parties traded 120 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $106.8K, with a price of $890.0 per contract. There were 0 open contracts at this strike prior to today, and today 120 contract(s) were bought and sold. 
• Regarding GEV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), we observe a call option sweep with bearish sentiment. It expires in 10 day(s) on November 1, 2024. Parties traded 59 contract(s) at a $287.50 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $38.3K, with a price of $650.0 per contract. There were 164 open contracts at this strike prior to today, and today 59 contract(s) were bought and sold. 
• Regarding UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), we observe a put option trade with bearish sentiment. It expires in 451 day(s) on January 16, 2026. Parties traded 30 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $44.4K, with a price of $1480.0 per contract. There were 1101 open contracts at this strike prior to today, and today 31 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACHR

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JOBY

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10 Industrials Stocks With Whale Alerts In Today's Session

Goldman Sachs analyst Ati Modak maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and lowers the price target from $182 to $124.

Goldman Sachs Maintains Buy on MYR Group, Lowers Price Target to $124

Investors in MYR Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/myrg#NASDAQ">MYRG</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $125 Call had some of the highest implied volatility of all equity options today.
<h2>What is Implied Volatility?</h2>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h2>What do the Analysts Think?</h2>
Clearly, options traders are pricing in a big move for MYR Group shares, but what is the fundamental picture for the company? Currently, MYR Group is a Zacks Rank #5 (Strong Buy) in the Electric Construction industry that ranks in the Bottom 1% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised its estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.52 per share to 79 cents per share in that period.
Given the way analysts feel about MYR Group right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2332758/is-the-options-market-predicting-a-spike-in-myr-group-myrg-stock?cid=CS-BENZ-FT-tale_of_the_tape|options-2332758">To read this article on Zacks.com click here.</a>

Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">HighPeak Energy</h3>
<ul>
<li>The Trade: HighPeak Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPK#NASDAQ">HPK</a>) CEO Jack Hightower <a href="https://www.benzinga.com/quote/hpk/analyst-ratings">acquired a total of 132,487 shares at</a> an average price of $15.45. To acquire these shares, it cost around $2.05 million.</li>
<li>What's Happening: On Aug. 5, HighPeak Energy posted downbeat quarterly results.</li>
<li>What HighPeak Energy Does: HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in Howard County of the Midland Basin.</li>
</ul>
<h3 class="wp-block-heading">Mercury Systems</h3>
<ul>
<li>The Trade: Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) 10% owner Jana Partners Management, LP acquired a total of 13,600 shares at an average price of $37.25. To acquire these shares, it cost around $506,600.</li>
<li>What's Happening: On Aug. 19, Alembic Global analyst Peter Skibitski upgraded Mercury Systems from Neutral to Overweight.</li>
<li>What Mercury Systems Does: Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry.</li>
</ul>
<h3 class="wp-block-heading">MYR Group</h3>
<ul>
<li>The Trade: MYR Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) Director Bradley Thede Favreau <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,005 shares</a> at an average price of $99.70. To acquire these shares, it cost around $100,199.</li>
<li>What's Happening: On July 31, MYR Group reported worse-than-expected quarterly financial results.</li>
<li>What MYR Group Does: MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. </li>
</ul>
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</ul>

Stifel analyst Brian Brophy maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Buy and lowers the price target from $172 to $119.

Stifel Maintains Buy on MYR Group, Lowers Price Target to $119

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness following weak US data.

MYR Group shares are trading lower after the company reported worse-than-expected Q2 financial results. Also, Baird maintained an Outperform rating on the stock but lowered its price target from $170 to $143.

Baird analyst Justin Hauke maintains MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) with a Outperform and lowers the price target from $170 to $143.

Baird Maintains Outperform on MYR Group, Lowers Price Target to $143

MYR Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>) reported quarterly losses of $(0.91) per share which missed the analyst consensus estimate of $1.13 by 180.53 percent. The company reported quarterly sales of $828.890 million which missed the analyst consensus estimate of $876.070 million by 5.39 percent. This is a 6.72 percent decrease over sales of $888.616 million the same period last year.

MYR Group Q2 2024 GAAP EPS $(0.91) Misses $1.13 Estimate, Sales $828.890M Miss $876.070M Estimate

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Shares of companies within the broader industrial sector are trading higher following recent CPI data.

Buybacks

MYR Group Announces $75M Share Repurchase Program

Press Releases

Pitney Bowes Appoints Lance Rosenzweig as Permanent CEO and Strengthens Board of Directors

MYR Group Inc. Announces Third-Quarter and First Nine-Months 2024 Results

MYR Group Inc. to Attend UBS Global Industrials and Transportation Conference in December

Management

Jennifer Lowry to Join the Board of Directors of TPI Composites, Inc.

MYR Group Inc. to Attend Janney Annual Clean Energy Investment Symposium Investor Conference in December

MYR Group Inc. to Participate in Oppenheimer Midwest Virtual Summit Investor Conference in December

MYR Group Inc. to Attend Goldman Sachs Energy, CleanTech & Utilities Conference in January

MYR Group Inc. to Attend Cantor Global Technology Conference in March

MYR Group Inc. Announces Fourth Quarter and Full Year 2024 Earnings Release and Conference Call Schedule

MYR Group Inc. to Participate in Sidoti Small-Cap Virtual Conference in March

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