Myers Industries (NYSE:MYE)‘s stock had its “sector weight” rating reaffirmed by stock analysts at KeyCorp in a report released on Tuesday, MarketBeat.com reports. KeyCorp also issued estimates for Myers Industries’ Q3 2018 earnings at $0.20 EPS, Q4 2018 earnings at $0.17 EPS and FY2019 earnings at $1.00 EPS.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Myers Industries from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Zacks Investment Research downgraded shares of Myers Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Robert W. Baird initiated coverage on shares of Myers Industries in a research report on Wednesday, July 11th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Myers Industries in a research report on Wednesday, July 11th. They set a “neutral” rating and a $22.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.60.
Shares of Myers Industries stock opened at $22.45 on Tuesday. Myers Industries has a 1-year low of $17.70 and a 1-year high of $24.60. The company has a quick ratio of 1.34, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $800.89 million, a PE ratio of 44.02 and a beta of 1.60.
Myers Industries (NYSE:MYE) last issued its quarterly earnings results on Monday, July 30th. The industrial products company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Myers Industries had a net margin of 0.08% and a return on equity of 19.11%. The company had revenue of $140.60 million during the quarter, compared to the consensus estimate of $144.30 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. research analysts forecast that Myers Industries will post 0.88 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in MYE. Piedmont Investment Advisors LLC acquired a new position in Myers Industries during the 2nd quarter worth approximately $122,000. SG Americas Securities LLC acquired a new position in Myers Industries during the 2nd quarter worth approximately $150,000. Barclays PLC increased its position in Myers Industries by 88.8% during the 1st quarter. Barclays PLC now owns 7,232 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 3,401 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Myers Industries by 31.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,364 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 2,462 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Myers Industries during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 86.74% of the company’s stock.
About Myers Industries
Myers Industries, Inc manufactures and sells polymer products for industrial, agricultural, automotive, commercial, and consumer markets worldwide. The company's Material Handling segment provides plastic reusable material handling containers, pallets, small parts bins, bulk shipping containers, storage and organization products, and rotationally-molded plastic tanks for water, fuel, and waste handling applications; welded steel service carts, platform trucks, mobile work centers, racks, and cabinets; plastic trim and interior parts used in the production of seat components, consoles, and other applications in the recreational vehicle, marine, and industrial markets; and plastic fuel containers, portable marine fuel tanks and water containers, ammunition containers, and storage totes under the Buckhorn, Akro-Mils, Jamco Products, Ameri-Kart, and Scepter brands.
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