Extremely important positive changes in investment behavior have recently occurred for Myers Industries Inc. (NYSE: MYE): its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
MYE is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Myers Industries has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Myers Industries has a neutral Appreciation Score of 52 and a slightly negative Power Rating of 38, triggering the Low Neutral Value Trend Rating.
Recent Price Action
Myers Industries Inc. (NYSE: MYE) stock closed at $19.63 on 12/14/23 after a large increase of 3.8%. Moreover, exceptionally high trading volume at 280% of normal accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 9.8% during the last week.
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