On 5/7/24, Myers Industries Inc. (NYSE: MYE) stock suffered a major decline of -20.7%, closing at $18.22. Moreover, this decline was accompanied by exceptionally high trading volume at 288% of normal. The stock has been strong relative to the market over the last nine months but has declined -18.3% during the last week.
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 C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Myers Industries has a poor Appreciation Score of 27 but a good Power Rating of 82, with the Neutral Value Trend Rating the result.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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