Stericycle (SRCL) Trading Down 0.4% After Analyst Downgrade

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Stericycle Inc (NASDAQ:SRCL) was down 0.4% during mid-day trading on Monday after Bank of America lowered their price target on the stock from $53.00 to $50.00. Bank of America currently has an underperform rating on the stock. Stericycle traded as low as $46.44 and last traded at $47.10. Approximately 59,288 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,151,090 shares. The stock had previously closed at $47.31.

A number of other brokerages also recently commented on SRCL. BidaskClub downgraded shares of Stericycle from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. BMO Capital Markets decreased their price objective on shares of Stericycle from $71.00 to $63.00 and set a “market perform” rating for the company in a research report on Monday, August 6th. Zacks Investment Research raised shares of Stericycle from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Robert W. Baird decreased their price objective on shares of Stericycle from $70.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Northcoast Research reissued a “neutral” rating on shares of Stericycle in a research report on Friday, October 12th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $66.88.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in shares of Stericycle by 362.6% during the 2nd quarter. Whittier Trust Co. now owns 1,087 shares of the business services provider’s stock worth $129,000 after buying an additional 852 shares during the period. Zions Bancorporation bought a new stake in shares of Stericycle during the 3rd quarter worth about $130,000. Dupont Capital Management Corp boosted its holdings in shares of Stericycle by 102.2% during the 2nd quarter. Dupont Capital Management Corp now owns 2,089 shares of the business services provider’s stock worth $136,000 after buying an additional 1,056 shares during the period. NumerixS Investment Technologies Inc boosted its holdings in shares of Stericycle by 285.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,695 shares of the business services provider’s stock worth $174,000 after buying an additional 1,995 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in shares of Stericycle during the 2nd quarter worth about $202,000. 95.11% of the stock is owned by institutional investors.

The firm has a market capitalization of $4.06 billion, a P/E ratio of 10.78, a PEG ratio of 1.24 and a beta of 0.52. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.93.

Stericycle (NASDAQ:SRCL) last announced its earnings results on Thursday, November 1st. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. The business had revenue of $854.90 million during the quarter, compared to the consensus estimate of $856.36 million. Stericycle had a net margin of 4.63% and a return on equity of 13.74%. Stericycle’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. Equities analysts predict that Stericycle Inc will post 4.37 earnings per share for the current year.

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Stericycle Company Profile (NASDAQ:SRCL)

Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It collects and processes regulated and specialized waste for disposal services; and collects personal and confidential information for secure destruction, as well as offers training, consulting, recall/return, communication, and compliance services.

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