Myers Industries Inc. (NYSE: MYE) has recently experienced extremely meaningful negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, its shorter term price trend turned down, its longer term price trend turned down, and negative upside/downside volume developed.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
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 (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Myers Industries has a neutral Appreciation Score of 40 but a good Power Rating of 79, triggering the High Neutral Value Trend Rating.
Recent Price Action
Myers Industries Inc. (NYSE: MYE) stock closed at $16.77 on 5/15/24 after a large increase of 4.2%. NORMAL trading volume accompanied the advance. Relative to the market the stock has been strong over the last nine months but has declined -8.0% during the last week.
Be the first to comment