Metalico Stock Rating Upgraded by Zacks (MEA)
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).
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