MYR Group stock gets a Strong Buy upgrade as estimates rise

Published on 10/06/2026 at 10:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

MYR Group stock carries a Zacks Rank #1 Strong Buy designation dated September 30, 2026. Q2 revenue rose 20.1 percent to USD 1.08 billion and backlog reached USD 3.16 billion.

MYRG, US55405W1045, Illustration mit AI erstellt.

MYR Group stock (ISIN US55405W1045) was trading at USD 304.01 on Nasdaq on October 6, 2026, at 3:17 p.m. EDT, while a fresh Zacks assessment gave the company a Rank #1 Strong Buy designation. The rating update dated September 30 followed a 8.7 percent rise in the Zacks consensus estimate for the current year over three months, according to Yahoo Finance.

Estimates rise after record quarter

The rating rests on operating figures from Q2 2026. MYR Group generated USD 1.08 billion in revenue, up 20.1 percent from the year-ago quarter, while diluted EPS increased to USD 3.17 from USD 1.70, according to Zacks. The same report put gross profit at USD 142.7 million, up 38 percent year over year, and gross margin at 13.2 percent, an expansion of 170 basis points.

Commercial and Industrial operations supplied the sharper growth. Segment revenue reached USD 557.7 million, up 41.5 percent year over year, while Transmission and Distribution revenue rose 3.5 percent to USD 524 million, according to Zacks.

Backlog reaches USD 3.16 billion

MYR Group ended Q2 2026 with a backlog of USD 3.16 billion, up 19.6 percent year over year and 11 percent above the prior-quarter record of USD 2.84 billion. Commercial and Industrial accounted for USD 1.89 billion, compared with USD 1.27 billion for Transmission and Distribution, according to Yahoo Finance.

The backlog improves visibility but does not remove execution risk. The report identifies project timing, cost pressure and the integration of Valley Electric and Comet Electric as factors that can influence when contracted work becomes revenue.

Analysts set a higher benchmark

MarketBeat described the analyst consensus as Moderate Buy on September 15, 2026, with eight analysts covering MYR Group. The average 12-month price target was USD 451.20, which places the target 48.4 percent above the October 6 price of USD 304.01, according to MarketBeat. That gap reflects an optimistic consensus, but it is not a company forecast or a price target created here.

MYR Group stock remains below yearly high

MYR Group stock was trading at USD 304.01 on Nasdaq on October 6, 2026, with a market capitalization of USD 4.7 billion. Its 52-week range was USD 190.14 to USD 503.57, leaving the share price 39.6 percent below the yearly high.