Wall Street Zen Upgrades Myers Industries (NYSE:MYE) to "Buy"

Key Points

• Wall Street Zen upgraded Myers Industries to “Buy” from “Hold,” although the broader analyst consensus remains “Hold” with an average price target of $37.
• Myers Industries exceeded quarterly expectations, reporting $0.53 in EPS versus the $0.36 consensus and revenue of $179.2 million versus $166 million expected.
• The stock rose 4.2% to $34.36, near its 52-week high, while institutional investors own 90.82% of shares; its elevated valuation and weakness in vehicle and consumer markets remain potential risks.

Myers Industries (NYSE:MYE - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other analysts have also recently issued reports on MYE. Weiss Ratings cut shares of Myers Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. KeyCorp increased their price target on shares of Myers Industries from $26.00 to $37.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $37.00.

Myers Industries Stock Up 4.2%

MYE opened at $34.36 on Friday. The company has a market capitalization of $1.29 billion, a PE ratio of 35.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.29. Myers Industries has a fifty-two week low of $12.96 and a fifty-two week high of $36.00. The business has a 50-day moving average of $28.72 and a 200-day moving average of $23.96.

Myers Industries (NYSE:MYE - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.36 by $0.17. Myers Industries had a return on equity of 19.86% and a net margin of 4.86%.The business had revenue of $179.20 million during the quarter, compared to analysts' expectations of $166.00 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its position in Myers Industries by 813.5% during the fourth quarter. Pzena Investment Management LLC now owns 1,302,309 shares of the industrial products company's stock worth $24,379,000 after acquiring an additional 1,159,746 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Myers Industries by 24.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 218,063 shares of the industrial products company's stock valued at $4,082,000 after purchasing an additional 42,672 shares during the period. Ritholtz Wealth Management bought a new stake in Myers Industries in the 4th quarter valued at $963,000. Janney Montgomery Scott LLC acquired a new stake in Myers Industries in the 1st quarter worth $690,000. Finally, Tectonic Advisors LLC acquired a new stake in Myers Industries in the 4th quarter worth $961,000. Institutional investors own 90.82% of the company's stock.

Myers Industries News Roundup

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

• Positive Sentiment: Quarterly results beat expectations: Second-quarter sales increased 9.8% year over year to $179.2 million, above the $166 million consensus estimate. Adjusted EPS was reported at approximately $0.50-$0.53, versus expectations of $0.36. Net income more than doubled to $20.0 million, while operating income reached $31.2 million. Myers Industries Announces 2026 Second Quarter Results
• Positive Sentiment: Strong end-market performance: Infrastructure sales rose 52% and Food & Beverage sales climbed 48%. Management said infrastructure growth should remain strong, with moderate growth expected in Industrial and Food & Beverage markets. Myers Industries Q2 Revenue Rises 9.8 Percent
• Positive Sentiment: Defense expansion supports the growth outlook: Scepter, Myers’ military-packaging business, launched European production of ammunition containers and is expanding its manufacturing footprint to Poland. Management sees ammunition-packaging revenue growing at a 10%-15% compound annual rate through 2028, potentially improving European sales and capacity. Myers Industries Expands Defense Manufacturing Footprint to Poland
• Positive Sentiment: Healthy cash generation and liquidity: Operating cash flow was $32.1 million and free cash flow was $26.5 million. Total liquidity stood at $292.3 million after the company refinanced and extended its credit facilities, providing flexibility for expansion. Myers Industries Posts Strong Second-Quarter 2026 Results
• Negative Sentiment: Some markets remain weak: Vehicle sales declined 19% and Consumer sales fell 14%, underscoring continued exposure to cyclical and softer-demand end markets. The stock’s elevated valuation, including a price-to-earnings ratio near 49, may also limit upside if growth slows.

About Myers Industries

Myers Industries, Inc is a diversified manufacturer of polymer products serving industrial, commercial and consumer markets. The company designs, produces and markets a broad range of molded and fabricated plastic components, including pallets, bulk containers, tanks and drums used in material handling and storage applications. Myers Industries leverages proprietary polymer technologies to provide durable, reusable solutions that help customers optimize supply chain efficiency and reduce environmental impact.

Myers operates primarily through two business segments.

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.