Neutral
Seeking Alpha
18 days ago
Myers Industries Doesn't Deserve A Downgrade Here
Myers Industries (MYE) remains a soft 'buy,' despite recent underperformance and ongoing operational challenges, due to its attractive valuation. MYE's revenue growth in 2023 was driven by acquisitions, but organic sales and profitability declined, pressured by higher costs and debt. Management is pursuing strategic cost-cutting, asset sales, and operational consolidation to improve profitability and position for future growth.