Follow The Ratings: Is Myers Industries (NYSE:MYE) a Stock to Sell After KeyBanc Capital Markets Downgrade?

November 29, 2016 - By Dolores Ford

Follow The Ratings: Is Myers Industries (NYSE:MYE) a Stock to Sell After KeyBanc Capital Markets Downgrade?

Myers Industries (NYSE:MYE) Downgrade

KeyBanc Capital Markets downgraded shares of Myers Industries (NYSE:MYE) from a Sector Weight rating to a Underweight rating in a an analyst report shared with investors on 29 November.

The stock closed at $14.95 during the last session. It is up 13.69% since April 26, 2016 and is uptrending. It has outperformed by 8.43% the S&P500.

Analysts await Myers Industries, Inc. (NYSE:MYE) to report earnings on February, 23. They expect $0.01 EPS, down 83.33% or $0.05 from last year’s $0.06 per share. MYE’s profit will be $296,247 for 373.75 P/E if the $0.01 EPS becomes a reality. After $0.04 actual EPS reported by Myers Industries, Inc. for the previous quarter, Wall Street now forecasts -75.00% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.32 in Q2 2016. Its up 0.29, from 1.03 in 2016Q1. The ratio is positive, as 2 funds sold all Myers Industries, Inc. shares owned while 36 reduced positions. 10 funds bought stakes while 29 increased positions. They now own 24.31 million shares or 0.14% less from 24.34 million shares in 2016Q1.

Teton Advsrs accumulated 0.79% or 609,932 shares. Spark Mngmt Ltd holds 0.08% of its portfolio in Myers Industries, Inc. (NYSE:MYE) for 59,100 shares. Northern Tru has invested 0% of its portfolio in Myers Industries, Inc. (NYSE:MYE). Geode Mgmt Limited Com has 0% invested in the company for 155,527 shares. Bnp Paribas Arbitrage last reported 6,802 shares in the company. State Board Of Administration Of Florida Retirement Sys has 0% invested in the company for 24,920 shares. State Of Tennessee Treasury Department accumulated 19,151 shares or 0% of the stock. Wells Fargo Comm Mn has 0% invested in the company for 13,556 shares. Blackrock Inv Ltd Co accumulated 0% or 95,582 shares. Barclays Public Ltd Co reported 73 shares or 0% of all its holdings. Deutsche National Bank & Trust Ag owns 72,141 shares or 0% of their US portfolio. Price T Rowe Assoc Inc Md last reported 4.28M shares in the company. Los Angeles Capital Mgmt & Equity Rech, a California-based fund reported 24,890 shares. Moreover, Teacher Retirement Sys Of Texas has 0% invested in Myers Industries, Inc. (NYSE:MYE) for 3,375 shares. Schwab Charles Inv Management holds 0% of its portfolio in Myers Industries, Inc. (NYSE:MYE) for 86,062 shares.

Insider Transactions: Since July 13, 2016, the stock had 2 insider purchases, and 2 sales for $17,022 net activity. 2,000 shares were bought by SCACCETTI JANE, worth $29,280 on Tuesday, August 16. Shares for $7,400 were sold by GAMCO INVESTORS – INC. ET AL. Another trade for 1,000 shares valued at $13,995 was made by CROWE JOHN B on Friday, August 12.

Myers Industries, Inc. is an international manufacturing and distribution company. The company has a market cap of $442.89 million. The Firm operates through two divisions: Material Handling, which designs, makes and markets a range of plastic and metal products, and Distribution, which is engaged in the distribution of equipment, tools and supplies used for tire servicing and automotive undervehicle repair and the manufacture of tire repair and retreading products. It has a 174.02 P/E ratio. The Material Handling segment offers products under the brands, including Buckhorn, Novel, Jamco Products and Akro-Mils.

According to Zacks Investment Research, “Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and undervehicle repair industry in the United States.”

MYE Company Profile

Myers Industries, Inc. (Myers Industries), incorporated on January 3, 1955, is an international manufacturing and distribution company. The Firm operates through two divisions: Material Handling and Distribution. The Firm operates approximately 20 manufacturing facilities, 20 sales offices, four distribution centers and over three distribution branches located across North, Central and South America. The Firm offers approximately 15,500 manufactured products and 12,500 distributed products.

More important recent Myers Industries, Inc. (NYSE:MYE) news were published by: Crainscleveland.com which released: “Myers Industries Inc. names a new CFO” on October 19, 2016, also Crainscleveland.com published article titled: “Myers Industries Inc. of Akron names new CEO”, Businesswire.com published: “Myers Industries Announces Reporting Date and Conference Call for 2016 Third …” on October 25, 2016. More interesting news about Myers Industries, Inc. (NYSE:MYE) was released by: Plasticsnews.com and their article: “Myers Industries unveils new management structure” with publication date: September 28, 2016.

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