Alert: Rating Upgrade (12/1/23)-Myers Industries Inc. (NYSE: MYE).


Stock Rating Upgrade

Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Myers Industries Inc. (NYSE: MYE) improved during the last several trading days. MYE’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.


Recent Price Action

Myers Industries Inc. (NYSE: MYE) stock rose modestly by 1.0% on 12/1/23. The stock closed at $17.79. Moreover, above average trading volume at 133% of normal accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 2.2% during the last week.

Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, MYE is expected to continue to be a Value Builder.

Myers Industries has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. 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 53 and a slightly negative Power Rating of 37, resulting in the Low Neutral Value Trend Rating.

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