Milacron (NYSE:MCRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Milacron Holdings’ orders grew 9% year over year in 2017 and year-end, backlog was a strong $287 million. Backed by the recent positive momentum in the global economy, Milacron projects sales growth guidance of 2-4% in 2018 and adjusted EBITDA between $237 million and $243 million, a 6% year-over-year growth at the mid-point. Milacron’s revenue growth will be supported from continued momentum in emerging markets (India, China), geographic expansion of certain product lines, consistent penetration of hot runners, and new products while cost-reduction initiatives will boost margins. The company has outperformed the industry in the past three months. However, input cost inflation and substantial debt remain headwinds.”
Several other equities analysts also recently weighed in on the stock. KeyCorp restated a “buy” rating and set a $24.00 target price on shares of Milacron in a report on Friday, February 23rd. ValuEngine upgraded shares of Milacron from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 20th. Finally, TheStreet downgraded shares of Milacron from a “b” rating to a “c” rating in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Milacron has an average rating of “Buy” and an average price target of $24.00.
Shares of Milacron (MCRN) opened at $21.04 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 2.30 and a debt-to-equity ratio of -5.90. Milacron has a 52 week low of $15.09 and a 52 week high of $22.62. The company has a market cap of $1,463.00, a PE ratio of 12.40, a P/E/G ratio of 2.08 and a beta of 0.56.
Milacron (NYSE:MCRN) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Milacron had a net margin of 0.09% and a negative return on equity of 62.36%. The firm had revenue of $324.90 million during the quarter, compared to the consensus estimate of $302.91 million. During the same period last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. research analysts forecast that Milacron will post 1.87 EPS for the current fiscal year.
In other news, CEO Thomas J. Goeke sold 7,800 shares of Milacron stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $21.09, for a total transaction of $164,502.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jim M. Kratochvil sold 28,000 shares of Milacron stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $21.65, for a total transaction of $606,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,232 shares of company stock valued at $2,088,200 over the last 90 days. 3.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MCRN. Channing Capital Management LLC purchased a new stake in shares of Milacron during the fourth quarter worth about $52,429,000. Wells Fargo & Company MN grew its holdings in shares of Milacron by 57.6% during the fourth quarter. Wells Fargo & Company MN now owns 5,371,576 shares of the industrial products company’s stock worth $102,812,000 after buying an additional 1,963,470 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Milacron during the fourth quarter worth about $30,244,000. Tinicum Inc purchased a new stake in shares of Milacron during the fourth quarter worth about $15,896,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Milacron during the fourth quarter worth about $15,794,000.
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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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