MYR Group, Inc. (MYRG) Hits Fresh High: Is There Still Room to Run?

Shares of MYR Group (MYRG) have been strong performers lately, with the stock up 5.4% over the past month. The stock hit a new 52-week high of $296.94 in the previous session. MYR has gained 32.4% since the start of the year compared to the 9.8% gain for the Zacks Utilities sector and the 32.4% return for the Zacks Electric Construction industry.

What's Driving the Outperformance?

The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on February 25, 2026, MYR reported EPS of $2.33 versus consensus estimate of $1.73.

For the current fiscal year, MYR is expected to post earnings of $8.98 per share on $4.01 in revenues. This represents a 19.26% change in EPS on a 9.59% change in revenues. For the next fiscal year, the company is expected to earn $9.29 per share on $4.19 in revenues. This represents a year-over-year change of 3.42% and 4.55%, respectively.

Valuation Metrics

Though MYR has recently hit a 52-week high, what is next for MYR? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.

On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.

MYR has a Value Score of D. The stock's Growth and Momentum Scores are A and D, respectively, giving the company a VGM Score of B.

In terms of its value breakdown, the stock currently trades at 32.2X current fiscal year EPS estimates, which is a premium to the peer industry average of 27.6X. On a trailing cash flow basis, the stock currently trades at 24.3X versus its peer group's average of 24.3X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.

Zacks Rank

We also need to look at the Zacks Rank for the stock, as this is even more important than the company's VGM Score. Fortunately, MYR currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if MYR passes the test. Thus, it seems as though MYR shares could have a bit more room to run in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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