Stock Rating Downgrade
The Value Trend Rating for Myers Industries Inc. (NYSE: MYE) weakened of late from C to D reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Myers Industries Inc. (NYSE: MYE) stock closed at $15.54 on 8/1/24 after a large increase of 4.3%. Moreover, unusually high trading volume at 156% of normal accompanied the advance. The stock has risen 8.1% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, MYE is expected to continue to be an important Value Builder.
Myers Industries has a current Value Trend Rating of D (Negative). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Myers Industries has a neutral Appreciation Score of 50 and a slightly negative Power Rating of 32, with the Negative Value Trend Rating the result.
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