Berenberg Bank Downgrades Stericycle (NASDAQ:SRCL) to Hold

Stericycle (NASDAQ:SRCLGet Rating) was downgraded by research analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports. They presently have a $46.00 target price on the business services provider’s stock, down from their prior target price of $95.00. Berenberg Bank’s price target would suggest a potential upside of 1.61% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities analysts have also recently commented on the stock. Robert W. Baird cut their target price on shares of Stericycle from $72.00 to $63.00 in a report on Friday, April 29th. Barrington Research reaffirmed a “market perform” rating on shares of Stericycle in a report on Tuesday, April 19th. Zacks Investment Research raised shares of Stericycle from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a report on Wednesday, April 27th. Finally, StockNews.com cut shares of Stericycle from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.50.

SRCL stock traded down $0.99 during midday trading on Thursday, reaching $45.27. 4,685 shares of the company were exchanged, compared to its average volume of 477,214. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.92 and a current ratio of 0.92. Stericycle has a 1-year low of $45.50 and a 1-year high of $79.97. The stock’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $58.04. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -62.51, a price-to-earnings-growth ratio of 2.90 and a beta of 1.31.

Stericycle (NASDAQ:SRCLGet Rating) last released its quarterly earnings data on Thursday, April 28th. The business services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). Stericycle had a positive return on equity of 6.84% and a negative net margin of 2.58%. The company had revenue of $664.20 million for the quarter, compared to analyst estimates of $669.61 million. During the same period in the previous year, the business posted $0.71 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts anticipate that Stericycle will post 2.09 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. grew its position in Stericycle by 4.8% in the 1st quarter. Eagle Asset Management Inc. now owns 27,539 shares of the business services provider’s stock valued at $1,622,000 after buying an additional 1,252 shares during the last quarter. AlphaCrest Capital Management LLC boosted its position in shares of Stericycle by 516.7% during the 1st quarter. AlphaCrest Capital Management LLC now owns 24,303 shares of the business services provider’s stock worth $1,432,000 after purchasing an additional 20,362 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Stericycle by 0.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 59,982 shares of the business services provider’s stock worth $3,535,000 after purchasing an additional 420 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Stericycle by 11.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 4,834 shares of the business services provider’s stock worth $285,000 after purchasing an additional 490 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Stericycle by 3.9% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,075,314 shares of the business services provider’s stock worth $63,358,000 after purchasing an additional 40,709 shares in the last quarter. Hedge funds and other institutional investors own 99.89% of the company’s stock.

About Stericycle (Get Rating)

Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including sharps disposable and management solutions; pharmaceutical waste services; hazardous waste disposal; maritime waste services, such as seaport and airport waste; and compliance programs under the Steri-Safe, Clinical Services, First Practice Management, SeguriMed, and EnviroAssure brand names.

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