Stericycle, Inc. (NASDAQ:SRCL) Earns Overweight Rating from Barclays PLC
Stericycle, Inc. (NASDAQ:SRCL)‘s stock had its “overweight” rating reaffirmed by equities researchers at Barclays PLC in a report issued on Wednesday. They presently have a $100.00 price target on the business services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 29.77% from the company’s current price.
A number of other brokerages have also recently weighed in on SRCL. Jefferies Group LLC set a $108.00 target price on shares of Stericycle and gave the stock a “buy” rating in a report on Saturday, May 6th. Zacks Investment Research upgraded shares of Stericycle from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Tuesday, April 25th. Robert W. Baird cut shares of Stericycle from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $74.00 to $73.00 in a report on Friday, May 5th. Deutsche Bank AG reduced their target price on shares of Stericycle from $14.00 to $10.00 and set a “buy” rating for the company in a report on Monday, May 15th. Finally, BMO Capital Markets assumed coverage on shares of Stericycle in a report on Thursday, June 29th. They set a “market perform” rating and a $81.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $81.15.
Stericycle (SRCL) traded down 2.88% during mid-day trading on Wednesday, reaching $74.84. The company’s stock had a trading volume of 838,727 shares. Stericycle has a one year low of $71.52 and a one year high of $90.43. The firm has a market cap of $6.38 billion, a PE ratio of 39.00 and a beta of 0.13. The stock’s 50 day moving average is $76.90 and its 200 day moving average is $80.64.
Stericycle (NASDAQ:SRCL) last issued its earnings results on Thursday, August 3rd. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.02. The firm had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $902.81 million. Stericycle had a negative net margin of 0.07% and a positive return on equity of 14.35%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. On average, analysts anticipate that Stericycle will post $4.60 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRCL. BlackRock Inc. increased its position in Stericycle by 3,492.3% in the first quarter. BlackRock Inc. now owns 5,089,580 shares of the business services provider’s stock worth $421,877,000 after buying an additional 4,947,900 shares in the last quarter. Ameriprise Financial Inc. increased its position in Stericycle by 144.9% in the first quarter. Ameriprise Financial Inc. now owns 1,901,243 shares of the business services provider’s stock worth $157,594,000 after buying an additional 1,124,908 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Stericycle during the first quarter worth $43,949,000. Thompson Siegel & Walmsley LLC acquired a new position in Stericycle during the second quarter worth $33,710,000. Finally, Wells Fargo & Company MN increased its position in Stericycle by 25.5% in the first quarter. Wells Fargo & Company MN now owns 1,956,193 shares of the business services provider’s stock worth $162,149,000 after buying an additional 398,076 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.
Stericycle, Inc is a business-to-business services provider. The Company focuses on regulated and compliance solutions for healthcare, retail, and commercial businesses. The Company’s segments include Domestic and Canada Regulated Waste and Compliance Services (RCS), Domestic Communication and Related Services (CRS), International RCS and All other.
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