In the past week, MYE stock has gone down by -16.80%, with a monthly decline of -18.26% and a quarterly plunge of -1.83%. The volatility ratio for the week is 3.80%, and the volatility levels for the last 30 days are 2.34% for Myers Industries Inc. The simple moving average for the past 20 days is -17.01% for MYE’s stock, with a -4.95% simple moving average for the past 200 days.
Is It Worth Investing in Myers Industries Inc. (NYSE: MYE) Right Now?
Myers Industries Inc. (NYSE: MYE) has a higher price-to-earnings ratio of 13.78x compared to its average ratio, The 36-month beta value for MYE is at 1.35. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 1 as “hold,” and 1 as “sell.”
The public float for MYE is 36.22M, and currently, shorts hold a 1.49% of that float. The average trading volume for MYE on May 08, 2024 was 269.93K shares.
MYE) stock’s latest price update
Myers Industries Inc. (NYSE: MYE)’s stock price has dropped by -20.75 in relation to previous closing price of 22.99. Nevertheless, the company has seen a loss of -16.80% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-05 that Myers (MYE) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.32 per share a year ago.
Analysts’ Opinion of MYE
Many brokerage firms have already submitted their reports for MYE stocks, with TD Cowen repeating the rating for MYE by listing it as a “Market Perform.” The predicted price for MYE in the upcoming period, according to TD Cowen is $23.75 based on the research report published on March 02, 2023 of the previous year 2023.
KeyBanc Capital Markets, on the other hand, stated in their research note that they expect to see MYE reach a price target of $25. The rating they have provided for MYE stocks is “Overweight” according to the report published on December 18th, 2020.
Cowen gave a rating of “Outperform” to MYE, setting the target price at $22 in the report published on August 27th of the previous year.
MYE Trading at -15.75% from the 50-Day Moving Average
After a stumble in the market that brought MYE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -22.89% of loss for the given period.
Volatility was left at 2.34%, however, over the last 30 days, the volatility rate increased by 3.80%, as shares sank -18.52% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.32% lower at present.
During the last 5 trading sessions, MYE fell by -16.80%, which changed the moving average for the period of 200-days by -7.75% in comparison to the 20-day moving average, which settled at $21.75. In addition, Myers Industries Inc. saw -6.80% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MYE starting from Bright Yvette Dapremont, who purchase 1,000 shares at the price of $18.69 back on Aug 29 ’23. After this action, Bright Yvette Dapremont now owns 15,427 shares of Myers Industries Inc., valued at $18,690 using the latest closing price.
McGaugh Michael, the President and CEO of Myers Industries Inc., purchase 2,500 shares at $18.47 during a trade that took place back on Aug 08 ’23, which means that McGaugh Michael is holding 171,296 shares at $46,185 based on the most recent closing price.
Stock Fundamentals for MYE
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.32 for the gross margin
The net margin for Myers Industries Inc. stands at 0.06. The total capital return value is set at 0.2. Equity return is now at value 17.79, with 9.01 for asset returns.
Based on Myers Industries Inc. (MYE), the company’s capital structure generated 0.18 points at debt to capital in total, while cash flow to debt ratio is standing at 1.34. The debt to equity ratio resting at 0.22. The interest coverage ratio of the stock is 11.89.
Currently, EBITDA for the company is 95.0 million with net debt to EBITDA at 0.7. When we switch over and look at the enterprise to sales, we see a ratio of 0.91. The receivables turnover for the company is 6.32for trailing twelve months and the total asset turnover is 1.5. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.55.
Conclusion
In conclusion, Myers Industries Inc. (MYE) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
