Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Myers Industries, Inc. before investing.

In this article, we go over a few key elements for understanding Myers Industries, Inc.’s stock price such as:

• Myers Industries, Inc.’s current stock price and volume
• Why Myers Industries, Inc.’s stock price changed recently
• Upgrades and downgrades for MYE from analysts
• MYE’s stock price momentum as measured by its relative strength

About Myers Industries, Inc. (MYE)

Before we jump into Myers Industries, Inc.’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Myers Industries, Inc. is a manufacturer of sustainable plastic and metal products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also a distributor of tools, equipment, and supplies for the tire, wheel, and under-vehicle service industry in the United States. The Company operates through two segments: Material Handling and Distribution. The Material Handling segment manufactures a broad selection of durable plastic reusable containers that are used repeatedly. Its products include pallets, small parts bins, bulk shipping containers, storage and organization products, custom plastic products, consumer fuel containers, and tanks for water, fuel and waste handling. The Distribution Segment is engaged in the distribution of tools, equipment, and supplies used for tire servicing, wheel, and automotive under-vehicle service on passenger, heavy truck, and off-road vehicles and the manufacturing of tire repair materials and custom rubber.

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Myers Industries, Inc.’s Stock Price as of Market Close

As of November 07, 2023, 4:00 PM, CST, Myers Industries, Inc.’s stock price was $16.95.

Myers Industries, Inc. is down 6.25% from its previous closing price of $18.08.

During the last market session, Myers Industries, Inc.’s stock traded between $17.81 and $18.17. Currently, there are 36.42 million shares of Myers Industries, Inc. stock available for purchase.

Myers Industries, Inc.’s price-earnings (P/E) ratio is currently at 13.5, which is low compared to the Non-Paper Containers & Packaging industry median of 14.1. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Myers Industries, Inc. Stock Price History

Myers Industries, Inc.’s (MYE) price is currently up 1.07% so far this month.

During the month of November, Myers Industries, Inc.’s stock price has reached a high of $18.17 and a low of $15.65.

Over the last year, Myers Industries, Inc. has hit prices as high as $26.49 and as low as $15.65. Year to date, Myers Industries, Inc.’s stock is down 15.29%.

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What Caused Myers Industries, Inc. Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of November 06, 2023, there were 2 analysts who downgraded Myers Industries, Inc.’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Myers Industries, Inc.’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Myers Industries, Inc.’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Myers Industries, Inc.’s current valuation based on AAII’s Value Grade is a B, which means it is considered to be Value.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Myers Industries, Inc. (MYE) by visiting AAII Stock Evaluator.

Relative Price Strength of Myers Industries, Inc.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of November 06, 2023, Myers Industries, Inc. has a weighted four-quarter relative price strength of -5.90%, which translates to a Momentum Score of 48 and is considered to be Average.

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Myers Industries, Inc. Stock Price: Bottom Line

As of November 7, 2023, Myers Industries, Inc.’s stock price is $16.95, which is down 6.25% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Myers Industries, Inc. stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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