Myers Industries (NYSE:MYE) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Myers Industries to “Hold” from “Buy,” while Weiss Ratings raised its rating to “Buy (b).” Analysts overall maintain a “Moderate Buy” consensus with a $37.00 price target.
• Myers Industries reported quarterly revenue of $171.34 million, above the $163.80 million estimate, but adjusted EPS of $0.32 missed consensus by $0.13. Profitability weakened as gross margin fell to 27.3% and the company posted a $0.9 million net loss.
• Institutional investors own 90.82% of the stock, with several major funds initiating positions. Management expects margin improvement in the fourth quarter and plans Signature capacity expansions that could generate roughly $60 million in additional revenue through 2029.

Myers Industries (NYSE:MYE - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Myers Industries from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Myers Industries Price Performance

NYSE MYE opened at $29.66 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.94. Myers Industries has a 12-month low of $16.46 and a 12-month high of $37.45. The company has a market capitalization of $1.12 billion, a PE ratio of 39.03 and a beta of 0.83. The firm's 50 day moving average is $31.46 and its 200-day moving average is $26.55.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.13). Myers Industries had a return on equity of 20.34% and a net margin of 3.99%. The business had revenue of $171.34 million during the quarter, compared to the consensus estimate of $163.80 million. During the same period in the prior year, the firm earned $0.19 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MYE. BlackRock Inc. acquired a new position in shares of Myers Industries during the 2nd quarter worth about $104,161,000. Pzena Investment Management LLC bought a new stake in shares of Myers Industries in the 2nd quarter valued at about $27,578,000. Tieton Capital Management LLC bought a new stake in shares of Myers Industries in the 2nd quarter valued at about $16,321,000. Bank of New York Mellon Corp acquired a new stake in Myers Industries in the 2nd quarter valued at about $14,988,000. Finally, Bank of America Corp DE acquired a new stake in Myers Industries in the 2nd quarter valued at about $9,946,000. 90.82% of the stock is currently owned by institutional investors.

Trending Headlines about Myers Industries

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Third-quarter revenue increased 8.1% year over year to $171.3 million, exceeding analysts’ expectations of approximately $163.8 million. Infrastructure revenue rose 38%, while Food & Beverage revenue grew 12%. Myers Industries Revenue Rises 8.1% to $171.3 Million in Third Quarter
• Positive Sentiment: Management expects significant sequential margin improvement in the fourth quarter as pricing actions take effect and resin costs stabilize. The company also outlined Signature capacity expansions of 30% in 2027 and another 30% in 2029, potentially supporting about $60 million of incremental revenue through 2029. Myers outlines Signature capacity expansions
• Neutral Sentiment: Myers reported $17.4 million of operating cash flow, $5.9 million of capital expenditures and total liquidity of $254.7 million, including $53.5 million in cash. These figures provide financial flexibility, although investors are focused more immediately on margin recovery. Myers Industries Reports Third-Quarter Results
• Negative Sentiment: Adjusted earnings per share were $0.32, below the $0.45 consensus estimate. Net income fell to a $0.9 million loss, or $0.02 per diluted share, from $7.1 million of profit a year earlier. Gross profit declined 5.0% to $46.8 million, and gross margin contracted to 27.3% from 31.1%. Myers Industries Sinks as Resin Costs Squeeze Margins

About Myers Industries

Myers Industries, Inc is a manufacturer and distributor of products serving industrial, agricultural, automotive, commercial and consumer markets. Founded in 1933 and headquartered in Akron, Ohio, the company operates primarily in North America.

Through its material-handling businesses, Myers Industries produces reusable plastic containers, totes, pallets, drums, tanks and other molded products. These products are used to store, transport and protect materials across industries such as manufacturing, food processing, agriculture, healthcare and logistics.

The company also distributes tire-service supplies, equipment and related products to tire dealers, retreaders, commercial fleets and automotive service providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.