Texas (Mar. 30, 2013) Wax Ink has issued a Continued Investment Interest rating for Myers Industries, Inc. (Nasdaq: MYE) based on a recent baseline equity review which placed fair value between $30-$34.
The recent close of $13.96 is approximately 23% below the fair value buy target for the stock and approximately 62% below the fair value close target for the stock. The recent close is also 13% below analysts' $16.00 median target for the stock.
The stock currently has a trailing twelve month PE Ratio of 8, and a PEG Ratio of 0.4 basis estimated forward earnings growth of 18%.
In the past 52 weeks, share prices have moved between a high of $17.98 and a low of $13.09. With the recent close, the stock is trading 29% below the 52 week high and 6% above the 52 week low.
Myers Industries, Inc. is an international manufacturer of plastic and rubber products for industrial, agricultural, automotive, commercial and consumer markets.
All valuations are based on the listed company's most recent SEC annual filing, and all prices are per share.
Wax Ink currently has a long position in the company mentioned in this alert.
Wax Ink.net is a baseline equity research company comprised of individual investors, NOT licensed or registered with ANY government agency.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in MYE over the next 72 hours.