Stericycle Inc. (SRCL) Trading Down 3.9% After Analyst Downgrade
Stericycle Inc. (NASDAQ:SRCL) was down 3.9% during mid-day trading on Monday after Zacks Investment Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $77.00 and last traded at $78.06, with a volume of 1,408,232 shares traded. The stock had previously closed at $81.24.
SRCL has been the subject of several other reports. Royal Bank Of Canada decreased their price objective on shares of Stericycle from $89.00 to $77.00 and set an “underperform” rating for the company in a research note on Monday. Jefferies Group reissued a “buy” rating and set a $125.00 target price on shares of Stericycle in a research report on Tuesday, August 23rd. Imperial Capital reduced their target price on shares of Stericycle from $93.50 to $80.00 and set an “underperform” rating on the stock in a research report on Friday, September 9th. Macquarie began coverage on shares of Stericycle in a research report on Thursday, August 25th. They set a “neutral” rating and a $96.00 target price on the stock. Finally, RBC Capital Markets reissued an “underperform” rating and set a $77.00 target price (down from $89.00) on shares of Stericycle in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $110.32.
In other Stericycle news, Director Mark C. Miller sold 24,665 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $104.55, for a total transaction of $2,578,725.75. Following the sale, the director now directly owns 229,449 shares of the company’s stock, valued at $23,988,892.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark C. Miller sold 34,835 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $104.52, for a total transaction of $3,640,954.20. Following the sale, the director now directly owns 244,284 shares in the company, valued at $25,532,563.68. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Jana Partners LLC acquired a new stake in shares of Stericycle during the first quarter worth $305,997,000. First Republic Investment Management Inc. boosted its stake in shares of Stericycle by 23.9% in the first quarter. First Republic Investment Management Inc. now owns 296,838 shares of the company’s stock worth $37,457,000 after buying an additional 57,220 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of Stericycle by 6.6% in the second quarter. Douglas Lane & Associates LLC now owns 346,276 shares of the company’s stock worth $36,054,000 after buying an additional 21,370 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stericycle by 2.7% in the first quarter. Geode Capital Management LLC now owns 729,638 shares of the company’s stock worth $91,897,000 after buying an additional 19,379 shares during the period. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in shares of Stericycle by 6.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 21,980 shares of the company’s stock worth $2,289,000 after buying an additional 1,288 shares during the period. 92.81% of the stock is currently owned by institutional investors.
The firm has a 50 day moving average price of $84.76 and a 200 day moving average price of $102.60. The firm has a market cap of $6.55 billion, a P/E ratio of 27.11 and a beta of 0.27.
Stericycle (NASDAQ:SRCL) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.18 EPS for the quarter, hitting analysts’ consensus estimates of $1.18. Stericycle had a return on equity of 14.84% and a net margin of 7.22%. The firm had revenue of $891.60 million for the quarter, compared to the consensus estimate of $910.29 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. Equities analysts anticipate that Stericycle Inc. will post $4.67 EPS for the current fiscal year.
Stericycle, Inc is a business-to-business services provider with a focus on regulated and compliance solutions for healthcare, retail and commercial businesses. The Company’s solutions include the collection and processing of specialized waste for disposal, the collection of personal and confidential information for secure destruction, and a range of training, consulting, recall/return, communication and compliance services.
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