Myers Industries (NYSE:MYE) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Myers Industries' stock received a "hold (C)" rating from Weiss Ratings, while it was also upgraded to a "buy" rating by Wall Street Zen.
• The company's stock price closed at $15.95, down $0.88 during trading, with a market cap of $596.84 million.
• Myers Industries reported $0.31 earnings per share for the last quarter, missing analysts' consensus estimates of $0.32, with revenues of $209.58 million compared to expectations of $220.60 million.

Myers Industries (NYSE:MYE - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also issued reports on the company. Wall Street Zen upgraded Myers Industries from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. KeyCorp upgraded Myers Industries from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective for the company in a report on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $21.00.

Myers Industries Stock Performance

Shares of NYSE MYE traded down $0.88 during trading on Wednesday, reaching $15.95. The stock had a trading volume of 129,959 shares, compared to its average volume of 273,734. Myers Industries has a one year low of $9.06 and a one year high of $17.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.12 and a current ratio of 1.77. The stock has a market cap of $596.84 million, a PE ratio of 61.58 and a beta of 1.15. The firm's 50 day moving average price is $16.35 and its two-hundred day moving average price is $14.02.

Myers Industries (NYSE:MYE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The firm had revenue of $209.58 million during the quarter, compared to the consensus estimate of $220.60 million. Myers Industries had a net margin of 1.20% and a return on equity of 13.02%. On average, research analysts forecast that Myers Industries will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in Myers Industries by 113.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,508 shares of the industrial products company's stock worth $80,000 after purchasing an additional 2,933 shares during the last quarter. EVR Research LP acquired a new position in shares of Myers Industries during the 2nd quarter valued at about $1,449,000. Bluefin Capital Management LLC acquired a new position in shares of Myers Industries during the 2nd quarter valued at about $1,594,000. AQR Capital Management LLC increased its holdings in shares of Myers Industries by 137.9% during the 2nd quarter. AQR Capital Management LLC now owns 397,242 shares of the industrial products company's stock valued at $5,756,000 after acquiring an additional 230,252 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Myers Industries by 5.5% during the 2nd quarter. Quantinno Capital Management LP now owns 28,341 shares of the industrial products company's stock valued at $411,000 after acquiring an additional 1,467 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.

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