Stericycle Downgraded by Wedbush to “Neutral” (SRCL)
Stericycle (NASDAQ:SRCL) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $120.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 5.74% from the company’s current price.
The analysts wrote, “We continue to view Stericycle (SRCL) as one of the few growth names in the Environmental Services Sector but downgrading the shares due to: (i) our belief that the mid-to-upper end of internal growth rates will be difficult to exceed over the next several quarters; (ii) expansion into new service offerings continues in earnest but will be lumpy; and (iii) contribution from M&A continues but we do not see a sizeable acquisition in the intermediate term that would alter current expectations and earnings profile. And while we admire the company’s strong execution, cash flow generation and growth through M&A, we believe the strengths are priced into the stock at the current premium valuation and recommend investors move to the sideline until there is more visibility that management can deliver growth rates at the mid-to-upper end of its targeted ranges.”
SRCL has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Stericycle in a research note to investors on Tuesday, August 13th. They now have a $123.00 price target on the stock. Separately, analysts at Barrington Research raised their price target on shares of Stericycle from $120.00 to $127.00 in a research note to investors on Tuesday, July 30th. Finally, analysts at Wunderlich raised their price target on shares of Stericycle from $120.00 to $123.00 in a research note to investors on Thursday, July 25th.
Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Stericycle has an average rating of “Buy” and a consensus target price of $119.41.
Stericycle (NASDAQ:SRCL) traded down 0.26% on Wednesday, hitting $113.20. 110,988 shares of the company’s stock traded hands. Stericycle has a one year low of $88.76 and a one year high of $119.59. The stock’s 50-day moving average is $116.3 and its 200-day moving average is $108.4. The company has a market cap of $9.723 billion and a price-to-earnings ratio of 34.50.
Stericycle (NASDAQ:SRCL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.02. The company had revenue of $526.50 million for the quarter, compared to the consensus estimate of $529.08 million. During the same quarter last year, the company posted $0.81 earnings per share. Stericycle’s revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that Stericycle will post $3.71 earnings per share for the current fiscal year.
Stericycle, Inc, is in the business of managing regulated waste and providing an array of related and complementary services.
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