Milacron (MCRN) Upgraded at Zacks Investment Research

Milacron (NYSE:MCRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $21.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.54% 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.”

Several other research analysts have also recently weighed in on the company. TheStreet upgraded Milacron from a “c” rating to a “b” rating in a research report on Wednesday, December 13th. BidaskClub cut Milacron from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. KeyCorp reiterated a “buy” rating and set a $21.00 price target on shares of Milacron in a research report on Friday, October 20th. Finally, Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Milacron in a research report on Wednesday, October 4th. One research 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 price target of $21.50.

Shares of Milacron (NYSE MCRN) traded up $0.39 during mid-day trading on Friday, reaching $18.66. The company had a trading volume of 1,686,500 shares, compared to its average volume of 473,825. The company has a debt-to-equity ratio of -5.41, a quick ratio of 1.31 and a current ratio of 2.39. The stock has a market capitalization of $1,270.00 and a PE ratio of -622.00. Milacron has a 52 week low of $15.09 and a 52 week high of $19.57.

Milacron (NYSE:MCRN) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $314.70 million during the quarter, compared to analysts’ expectations of $301.13 million. Milacron had a return on equity of 10.21% and a net margin of 3.91%. Milacron’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. research analysts anticipate that Milacron will post 1.62 EPS for the current year.

In other Milacron news, major shareholder Ccmp Capital, Lp sold 10,974,093 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $16.00, for a total value of $175,585,488.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Bruce A. Chalmers sold 8,600 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $18.18, for a total value of $156,348.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,129,039 shares of company stock worth $178,449,583. 3.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its holdings in Milacron by 765.3% in the second 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 period. SG Americas Securities LLC acquired a new stake in Milacron in the third quarter valued at approximately $101,000. Victory Capital Management Inc. grew its holdings in Milacron by 17.6% in the second quarter. Victory Capital Management Inc. now owns 6,678 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 1,000 shares during the period. Quantbot Technologies LP acquired a new stake in Milacron in the third quarter valued at approximately $132,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Milacron in the second quarter valued at approximately $185,000. 99.73% of the stock is currently owned by institutional investors.

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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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