NEW YORK (TheStreet) -- Shares of Stericycle (SRCL) - Get Report were rising 7.34% to $79.39 on heavy trading volume late Friday morning after the medical waste management provider posted 2016 third quarter earnings that surpassed analysts' estimates.

After yesterday's closing bell, the Lake Forest, IL-based company reported adjusted earnings of $1.24 per share, beating Wall Street's projections of $1.17 per share.

Revenue grew 23.9% year-over-year to $890.1 million but fell short of analysts' forecasts of $899.9 million.

Stifel upgraded the stock earlier today to "buy" from "hold" with a $90 price target, according to the Fly.

The firm said that Stericycle's third quarter report reveals that the company's earnings are becoming more stable.

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By midday Friday, more than 2.48 million shares of the company had traded vs. the 30-day average of 1.34 million.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: SRCL

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