Myers Industries Inc. Stock Upgraded (MYE)

NEW YORK ( TheStreet) -- Myers Industries (NYSE: MYE) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • MYERS INDUSTRIES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, MYERS INDUSTRIES INC turned its bottom line around by earning $0.71 versus -$1.21 in the prior year. This year, the market expects an improvement in earnings ($0.75 versus $0.71).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Containers & Packaging industry. The net income increased by 111.7% when compared to the same quarter one year prior, rising from -$50.48 million to $5.91 million.
  • MYE's revenue growth trails the industry average of 27.6%. Since the same quarter one year prior, revenues slightly increased by 3.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Containers & Packaging industry and the overall market on the basis of return on equity, MYERS INDUSTRIES INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • Powered by its strong earnings growth of 112.58% and other important driving factors, this stock has surged by 50.68% over the past year, outperforming the rise in the S&P 500 Index during the same period. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
.

Myers Industries, Inc. manufactures and distributes polymer products for the industrial, agricultural, automotive, commercial, and consumer markets primarily in the North, Central, and South America. Myers has a market cap of $436.2 million and is part of the consumer goods sector and consumer non-durables industry. Shares are up 16.1% year to date as of the close of trading on Friday.

You can view the full Myers Ratings Report or get investment ideas from our investment research center.
-- Written by a member of TheStreet RatingsStaff
null

If you liked this article you might like

Insider Trading Alert - MYRG, MYE And TIPT Traded By Insiders

Insider Trading Alert - NSR, MYE And TIPT Traded By Insiders

Insider Trading Alert - CYRX, ACSF And MYE Traded By Insiders

Insider Trading Alert - YORW, HSY And MYE Traded By Insiders

Insider Trading Alert - YORW, HSY And MYE Traded By Insiders