Myers Industries (NYSE:MYE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Myers Industries, Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest wholesale distributor of tools, equipment, and supplies for the tire service and undervehicle repair industry in the United States. “

A number of other equities analysts have also weighed in on the company. KeyCorp reiterated a “sell” rating and set a $15.00 price objective on shares of Myers Industries in a research note on Tuesday, November 7th. Wells Fargo & Co upgraded Myers Industries from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Myers Industries presently has a consensus rating of “Hold” and an average price target of $20.67.

Myers Industries (MYE) opened at $20.95 on Thursday. The stock has a market capitalization of $637.68, a price-to-earnings ratio of 51.10, a P/E/G ratio of 10.66 and a beta of 1.76. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.56 and a quick ratio of 1.06. Myers Industries has a 52 week low of $13.20 and a 52 week high of $22.65.

Myers Industries (NYSE:MYE) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.11. The company had revenue of $144.10 million during the quarter, compared to analyst estimates of $138.93 million. Myers Industries had a return on equity of 12.93% and a net margin of 1.24%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. analysts forecast that Myers Industries will post 0.49 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. grew its position in shares of Myers Industries by 44.4% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 5,656 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 1,738 shares during the period. KBC Group NV grew its position in shares of Myers Industries by 183.5% during the 2nd quarter. KBC Group NV now owns 5,695 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 3,686 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Myers Industries during the 3rd quarter valued at about $107,000. Acrospire Investment Management LLC acquired a new stake in shares of Myers Industries during the 2nd quarter valued at about $136,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Myers Industries by 99.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,637 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 4,315 shares during the period. Institutional investors and hedge funds own 84.87% of the company’s stock.

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Myers Industries Company Profile

Myers Industries, Inc is an international manufacturing and distribution company. The Company operates through two segments: Material Handling and Distribution. As of December 31, 2016, the Company operated 15 manufacturing facilities, 20 sales offices, four distribution centers and three distribution branches located throughout North, Central and South America.

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