Zacks Investment Research lowered shares of Milacron (NYSE:MCRN) from a buy rating to a hold rating in a research report released on Tuesday morning.
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 equities analysts have also recently commented on the stock. TheStreet raised shares of Milacron from a c rating to a b rating in a research report on Wednesday, December 13th. BidaskClub cut shares of Milacron from a buy rating to a hold rating in a research report on Tuesday, November 14th. KeyCorp reaffirmed a buy rating and set a $21.00 price objective on shares of Milacron in a research report on Friday, October 20th. Finally, Robert W. Baird reaffirmed a buy rating and set a $23.00 price objective on shares of Milacron in a research report on Wednesday, October 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $21.50.
Milacron (MCRN) traded up $0.35 during mid-day trading on Tuesday, reaching $19.01. 736,889 shares of the company’s stock were exchanged, compared to its average volume of 423,085. The company has a debt-to-equity ratio of -5.41, a quick ratio of 1.31 and a current ratio of 2.39. Milacron has a 1 year low of $15.09 and a 1 year high of $19.57. The company has a market capitalization of $1,295.31, a PE ratio of -633.46, a price-to-earnings-growth ratio of 1.26 and a beta of 0.94.
Milacron (NYSE:MCRN) last released 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 net margin of 0.09% and a negative return on equity of 56.93%. The firm had revenue of $314.70 million during the quarter, compared to analysts’ expectations of $301.13 million. During the same period in the previous year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts expect that Milacron will post 1.62 EPS for the current fiscal year.
In other news, major shareholder Ccmp Capital, Lp sold 10,974,093 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $16.00, for a total value of $175,585,488.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira G. Boots sold 33,689 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $19.02, for a total transaction of $640,764.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,129,039 shares of company stock valued at $178,449,583. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Milacron by 555.5% in the second quarter. JPMorgan Chase & Co. now owns 33,432 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 28,332 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Milacron in the second quarter valued at about $1,159,000. Walthausen & Co. LLC bought a new stake in shares of Milacron in the third quarter valued at about $6,772,000. FMR LLC bought a new stake in shares of Milacron in the second quarter valued at about $10,556,000. Finally, Northern Trust Corp boosted its position in shares of Milacron by 146.0% in the second quarter. Northern Trust Corp now owns 538,969 shares of the industrial products company’s stock valued at $9,480,000 after acquiring an additional 319,894 shares during the period. 99.73% of the stock is owned by institutional investors.
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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