Myers Industries (NYSE:MYE) Stock Gets Downgrade from Wall Street Zen

Myers Industries (NYSE:MYE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Myers Industries from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Myers Industries Price Performance

MYE stock opened at $29.66 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 39.03 and a beta of 0.84. The business’s 50-day moving average is $31.46 and its two-hundred day moving average is $26.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.89 and a quick ratio of 1.37. Myers Industries has a 1 year low of $16.46 and a 1 year high of $37.45.

Myers Industries (NYSE:MYE) last posted its earnings results on Thursday, October 29th. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). Myers Industries had a net margin of 3.99% and a return on equity of 20.34%. The business had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $163.80 million. During the same quarter last year, the business posted $0.19 earnings per share.

Hedge Funds Weigh In On Myers Industries

A number of large investors have recently made changes to their positions in MYE. BlackRock Inc. purchased a new position in shares of Myers Industries during the 2nd quarter worth approximately $104,161,000. Dimensional Fund Advisors LP raised its stake in shares of Myers Industries by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,589,420 shares of the industrial products company’s stock valued at $33,663,000 after purchasing an additional 39,565 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Myers Industries in the second quarter valued at approximately $27,578,000. Tieton Capital Management LLC acquired a new stake in Myers Industries during the 2nd quarter worth about $16,321,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Myers Industries by 10.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 712,692 shares of the industrial products company’s stock valued at $15,095,000 after buying an additional 67,080 shares during the last quarter. 90.82% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Myers Industries

Here are the key news stories impacting Myers Industries this week:

• Positive Sentiment: Third-quarter revenue increased 8.1% year over year to $171.3 million, exceeding analysts’ expectations of approximately $163.8 million. Infrastructure revenue rose 38%, while Food & Beverage revenue grew 12%. Myers Industries Revenue Rises 8.1% to $171.3 Million in Third Quarter
• Positive Sentiment: Management expects significant sequential margin improvement in the fourth quarter as pricing actions take effect and resin costs stabilize. The company also outlined Signature capacity expansions of 30% in 2027 and another 30% in 2029, potentially supporting about $60 million of incremental revenue through 2029. Myers outlines Signature capacity expansions
• Neutral Sentiment: Myers reported $17.4 million of operating cash flow, $5.9 million of capital expenditures and total liquidity of $254.7 million, including $53.5 million in cash. These figures provide financial flexibility, although investors are focused more immediately on margin recovery. Myers Industries Reports Third-Quarter Results
• Negative Sentiment: Adjusted earnings per share were $0.32, below the $0.45 consensus estimate. Net income fell to a $0.9 million loss, or $0.02 per diluted share, from $7.1 million of profit a year earlier. Gross profit declined 5.0% to $46.8 million, and gross margin contracted to 27.3% from 31.1%. Myers Industries Sinks as Resin Costs Squeeze Margins

About Myers Industries

Myers Industries, Inc is a manufacturer and distributor of products serving industrial, agricultural, automotive, commercial and consumer markets. Founded in 1933 and headquartered in Akron, Ohio, the company operates primarily in North America.

Through its material-handling businesses, Myers Industries produces reusable plastic containers, totes, pallets, drums, tanks and other molded products. These products are used to store, transport and protect materials across industries such as manufacturing, food processing, agriculture, healthcare and logistics.

The company also distributes tire-service supplies, equipment and related products to tire dealers, retreaders, commercial fleets and automotive service providers.