Newest Rating: Does Myers Industries (MYE) Look Bad? KeyBanc Downgrades It

November 29, 2016 - By Vivian Park

Newest Rating: Does Myers Industries (MYE) Look Bad? KeyBanc Downgrades It

Myers Industries (MYE) Downgrade

In a an analyst note made public on Tuesday, 29 November, KeyBanc has lowered Myers Industries (MYE) stock to “Underweight”. MYE’s old rating was “Sector Weight”.

About 17,950 shares traded hands. Myers Industries, Inc. (MYE) has risen 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 $296,250 for 370.00 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 2016 Q2. Its up 0.29, from 1.03 in 2016Q1. The ratio improved, 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.

Moreover, Goldman Sachs Grp has 0% invested in Myers Industries, Inc. (NYSE:MYE) for 46,128 shares. Moreover, Ls Investment Ltd Co has 0% invested in Myers Industries, Inc. (NYSE:MYE) for 839 shares. Invesco, a Georgia-based fund reported 44,305 shares. Blackrock Fund Advsrs owns 1.47M shares or 0% of their US portfolio. Price T Rowe Associates Md accumulated 4.28 million shares or 0.01% of the stock. Manufacturers Life The accumulated 0% or 16,454 shares. Millennium Ltd Liability Co holds 48,130 shares or 0% of its portfolio. Tiaa Cref Invest Management Limited holds 79,841 shares or 0% of its portfolio. Arizona State Retirement System last reported 11,386 shares in the company. Dimensional Fund Limited Partnership accumulated 0.02% or 2.02M shares. The Illinois-based North Star Corporation has invested 0.18% in Myers Industries, Inc. (NYSE:MYE). Comerica Retail Bank last reported 21,660 shares in the company. Ny State Teachers Retirement Sys has 0% invested in the company for 80,528 shares. Credit Suisse Ag reported 36,524 shares or 0% of all its holdings. Ubs Asset Americas holds 0% of its portfolio in Myers Industries, Inc. (NYSE:MYE) for 17,099 shares.

Insider Transactions: Since July 13, 2016, the stock had 2 insider purchases, and 2 sales for $17,022 net activity. 2,000 Myers Industries, Inc. (NYSE:MYE) shares with value of $29,280 were bought by SCACCETTI JANE. GAMCO INVESTORS – INC. ET AL had sold 500 shares worth $7,400 on Tuesday, November 22. 1,000 Myers Industries, Inc. (NYSE:MYE) shares with value of $13,995 were bought by CROWE JOHN B.

Myers Industries, Inc. is an international manufacturing and distribution company. The company has a market cap of $438.45 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 172.27 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 notable recent Myers Industries, Inc. (NYSE:MYE) news were published by: Marketwatch.com which released: “Myers Industries downgraded to underweight from sector weight at KeyBanc Capital” on July 02, 2009, also Crainscleveland.com with their article: “Myers Industries Inc. names a new CFO” published on October 19, 2016, Crainscleveland.com published: “Myers Industries Inc. of Akron names new CEO” on December 02, 2015. More interesting news about Myers Industries, Inc. (NYSE:MYE) were released by: Businesswire.com and their article: “Myers Industries Announces Reporting Date and Conference Call for 2016 Third …” published on October 25, 2016 as well as Plasticsnews.com‘s news article titled: “Myers Industries unveils new management structure” with publication date: September 28, 2016.

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