Stericycle, Inc. (NASDAQ:SRCL) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Stericycle, Inc. (NASDAQ:SRCL) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $85.00 target price on the business services provider’s stock.

According to Zacks, “Stericycle has a competitive edge with the largest collection and transportation network in the industry, which reduces operating costs and allows it to compete effectively on both service and price perspectives. International growth rates are expected to accelerate due to increasing customer adoption and expansion into new lines of business. With Shred-it on board, Stericycle is expected to further enhance its core compliance solutions portfolio and offer specialized services, thereby augmenting its value proposition to clients. In addition, the acquisition pool of the company remains robust in multiple geographies and lines of business, providing a long-term growth platform for selling multiple services. However, low barriers to entry in the industry and stiff competition from local as well as global players significantly reduce its price control. Stericycle also underperformed the industry year to date.”

Several other brokerages have also recently weighed in on SRCL. Jefferies Group LLC set a $108.00 price target on Stericycle and gave the company a buy rating in a research report on Saturday, May 6th. BMO Capital Markets began coverage on Stericycle in a research report on Thursday, June 29th. They set a market perform rating and a $81.00 price target for the company. Robert W. Baird lowered Stericycle from a neutral rating to an underperform rating and lowered their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) raised Stericycle from a sell rating to a neutral rating and boosted their price objective for the stock from $62.00 to $79.00 in a research note on Tuesday, March 7th. Finally, Barclays PLC began coverage on Stericycle in a research note on Thursday, April 13th. They set an overweight rating and a $100.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $81.15.

Shares of Stericycle (NASDAQ SRCL) traded down 0.67% during mid-day trading on Wednesday, hitting $75.97. 38,599 shares of the stock were exchanged. Stericycle has a 12 month low of $71.52 and a 12 month high of $107.74. The firm has a market cap of $6.48 billion, a P/E ratio of 39.59 and a beta of 0.13. The stock’s 50 day moving average is $80.67 and its 200 day moving average is $80.83.

Stericycle (NASDAQ:SRCL) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The business had revenue of $892.40 million during the quarter, compared to the consensus estimate of $874.34 million. Stericycle had a return on equity of 14.40% and a net margin of 5.23%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share. Analysts expect that Stericycle will post $4.63 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of SRCL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Stericycle by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,877 shares of the business services provider’s stock worth $376,000 after buying an additional 20 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Stericycle by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 242,439 shares of the business services provider’s stock valued at $18,677,000 after buying an additional 7,191 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Stericycle by 31.1% in the fourth quarter. Federated Investors Inc. PA now owns 2,259 shares of the business services provider’s stock valued at $174,000 after buying an additional 536 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Stericycle during the fourth quarter valued at $100,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Stericycle during the fourth quarter valued at $554,000. Institutional investors own 96.51% of the company’s stock.

Stericycle Company Profile

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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Analyst Recommendations for Stericycle (NASDAQ:SRCL)

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