Milacron (MCRN) Downgraded by Zacks Investment Research
Milacron (NYSE:MCRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Milacron’s year-to-date orders have gone up 10%, reflecting continued strength in high-growth regions and a solid order book. The company had raised organic sales growth guidance to 3.0-3.5%. Adjusted EBITDA guidance was tightened to $222-$224 million range to reflect higher material input costs and operational inefficiencies in Europe. However, pricing pressure in the Advanced Plastic Processing Technologies segment and high debt level remains concerns. The company’s shares have underperformed the industry in a year. Nevertheless, Milacron’s revenue growth will be supported from underlying market growth in key segments, geographic expansion of certain product lines, consistent penetration of hot runners, and incremental share gain from new products. Cost-reduction initiatives will help boost margins.”
A number of other brokerages also recently commented on MCRN. KeyCorp reiterated a “buy” rating and issued a $21.00 price objective on shares of Milacron in a research report on Friday, October 20th. BidaskClub upgraded Milacron from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. TheStreet upgraded Milacron from a “c” rating to a “b” rating in a research report on Wednesday, December 13th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $23.00 price objective on shares of Milacron in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Milacron has a consensus rating of “Buy” and a consensus target price of $21.50.
Milacron (NYSE:MCRN) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. Milacron had a negative return on equity of 56.93% and a negative net margin of 0.09%. The company had revenue of $314.70 million during the quarter, compared to the consensus estimate of $301.13 million. During the same quarter last year, the company earned $0.36 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts expect that Milacron will post 1.62 EPS for the current year.
In related news, insider Ronald M. Krisanda sold 17,640 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $18.56, for a total transaction of $327,398.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira G. Boots sold 33,689 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $19.02, for a total value of $640,764.78. The disclosure for this sale can be found here. Insiders have sold a total of 11,129,039 shares of company stock valued at $178,449,583 in the last 90 days. 3.40% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in Milacron by 133.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,957 shares of the industrial products company’s stock valued at $3,219,000 after purchasing an additional 104,733 shares during the last quarter. Rhumbline Advisers raised its position in Milacron by 216.6% in the 2nd quarter. Rhumbline Advisers now owns 48,617 shares of the industrial products company’s stock valued at $855,000 after purchasing an additional 33,261 shares during the last quarter. Bank of New York Mellon Corp raised its position in Milacron by 100.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 192,413 shares of the industrial products company’s stock valued at $3,384,000 after purchasing an additional 96,316 shares during the last quarter. Legal & General Group Plc raised its position in Milacron by 215.5% in the 2nd quarter. Legal & General Group Plc now owns 10,772 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 7,358 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Milacron by 765.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,754 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 5,089 shares during the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.
Milacron Company Profile
Milacron Holdings Corp. is engaged in the manufacture, distribution, and service of engineered and customized systems used in the plastic technology and processing industry. The Company operates through three segments: Advanced Plastic Processing Technologies (APPT), Melt Delivery and Control Systems (MDCS), and Fluid Technologies.
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