Today’s Rating: Is Myers Industries (NYSE:MYE) a Sell? How Analyst Rate it? Why KeyBanc Capital Mkts Downgraded The Stock

November 29, 2016 - By Richard Conner

Today's Rating: Is Myers Industries (NYSE:MYE) a Sell? How Analyst Rate it? Why KeyBanc Capital Mkts Downgraded The Stock

Myers Industries (NYSE:MYE) Downgrade

KeyBanc Capital Mkts has decreased Myers Industries (NYSE:MYE) stock to “Underweight” in a analysts report sent to clients and investors on 29 November. MYE’s old rating was “Sector Weight”.

About 14,458 shares traded hands. Myers Industries, Inc. (NYSE: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 earnings per share, down 83.33% or $0.05 from last year’s $0.06 per share. MYE’s profit will be $296,247 for 363.75 P/E if the $0.01 EPS becomes a reality. After $0.04 actual earnings per share 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 increased, 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.

Gabelli Funds Limited Liability Corporation, a New York-based fund reported 1.54 million shares. Price T Rowe Assocs Md last reported 0.01% of its portfolio in the stock. Moreover, Us Savings Bank De has 0% invested in Myers Industries, Inc. (NYSE:MYE) for 2,000 shares. Wedge Cap L L P Nc owns 56,300 shares or 0.01% of their US portfolio. Wellington Management Grp Limited Liability Partnership has invested 0% of its portfolio in Myers Industries, Inc. (NYSE:MYE). Dimensional Fund Advisors Lp holds 2.02M shares or 0.02% of its portfolio. Moreover, D E Shaw has 0% invested in Myers Industries, Inc. (NYSE:MYE) for 23,014 shares. Barclays Public Ltd Com accumulated 0% or 73 shares. Menta Capital Ltd Liability Corporation last reported 0.02% of its portfolio in the stock. Teachers Inc holds 35,809 shares or 0% of its portfolio. New York State Teachers Retirement Sys holds 80,528 shares or 0% of its portfolio. Panagora Asset Management accumulated 0% or 31,248 shares. Blackrock Fund Advsrs accumulated 0% or 1.47 million shares. Swiss National Bank owns 45,600 shares or 0% of their US portfolio. Sector Pension Board holds 0% of its portfolio in Myers Industries, Inc. (NYSE:MYE) for 15,801 shares.

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

Myers Industries, Inc. is an international manufacturing and distribution company. The company has a market cap of $431.04 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 169.36 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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