Milacron (MCRN) Upgraded to “Buy” at Zacks Investment Research
Milacron (NYSE:MCRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $21.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.47% from the company’s previous close.
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. 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. The company has a positive record of earnings surprises.”
A number of other equities research analysts have also commented on MCRN. BidaskClub upgraded shares of Milacron from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. TheStreet upgraded shares of Milacron from a “c” rating to a “b” rating in a report on Wednesday, December 13th. Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Milacron in a report on Wednesday, October 4th. Finally, KeyCorp reiterated a “buy” rating and set a $21.00 price target on shares of Milacron in a report on Friday, October 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Milacron currently has a consensus rating of “Buy” and a consensus price target of $21.50.
Shares of Milacron (NYSE MCRN) opened at $19.01 on Friday. The firm has a market cap of $1,295.31, a P/E ratio of -633.46, a PEG ratio of 1.26 and a beta of 0.94. The company has a quick ratio of 1.31, a current ratio of 2.39 and a debt-to-equity ratio of -5.41. Milacron has a 1-year low of $15.09 and a 1-year high of $19.57.
Milacron (NYSE:MCRN) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. The firm had revenue of $314.70 million during the quarter, compared to analyst estimates of $301.13 million. Milacron had a negative net margin of 0.09% and a negative return on equity of 56.93%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. research analysts predict that Milacron will post 1.62 earnings per share for the current year.
In related news, Director Ira G. Boots sold 33,689 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $19.02, for a total transaction of $640,764.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Ronald M. Krisanda sold 8,820 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $18.57, for a total transaction of $163,787.40. 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 over the last quarter. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MCRN. Schwab Charles Investment Management Inc. raised its holdings 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 worth $3,219,000 after purchasing an additional 104,733 shares in the last quarter. Rhumbline Advisers raised its holdings in Milacron by 216.6% in the 2nd quarter. Rhumbline Advisers now owns 48,617 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 33,261 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $3,384,000 after purchasing an additional 96,316 shares in the last quarter. Legal & General Group Plc raised its holdings 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 worth $189,000 after purchasing an additional 7,358 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings 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 worth $101,000 after purchasing an additional 5,089 shares in the last quarter. Institutional investors and hedge funds own 99.73% of the company’s stock.
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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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