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Metalico (NYSE:MEA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Thursday. The firm currently has a $1.60 price target on the stock. Zacks‘s target price suggests a potential upside of 18.52% from the company’s current price.

Metalico (NYSE:MEA) traded up 2.96% on Thursday, hitting $1.39. The stock had a trading volume of 83,224 shares. Metalico has a one year low of $1.11 and a one year high of $2.68. The stock’s 50-day moving average is $1.36 and its 200-day moving average is $1.55. The company’s market cap is $67.0 million. Metalico also was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 820,597 shares, a growth of 38.7% from the July 15th total of 591,511 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average trading volume of 187,672 shares, the short-interest ratio is currently 4.4 days.

Metalico (NYSE:MEA) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $142.00 million for the quarter, compared to the consensus estimate of $141.86 million. On average, analysts predict that Metalico will post $-0.10 earnings per share for the current fiscal year.

Metalico, Inc (NYSE:MEA), operates in three business segments: ferrous and non-ferrous scrap metal recycling, Scrap Metal Recycling), platinum group and minor metals recycling (PGM and Minor Metals Recycling) and lead metal product fabricating (Lead Fabricating).

To view Zacks’ full report, visit Zacks’ official website.

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