Milacron Holdings Corp. (MCRN) Downgraded by Zacks Investment Research
Milacron Holdings Corp. (NYSE:MCRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “For fiscal 2017, Milacron projects organic sales growth of 0–2% and adjusted EBITDA between $219 million and $225 million. The company has a mixed record of earnings surprises in the last few quarters. Milacron's shares have underperformed the industry in the past year. In the Advanced Plastic Processing Technologies segment, pricing pressure remains a headwind. The environment remains somewhat sluggish for equipment spending, and consequently, a significant improvement is not expected very soon. In the past few quarters, Milacron’s pace of margin expansion has decelerated on a year-over-year basis due to the impact of restructuring activities and APPT's investments in its aftermarket business. Milacron's high debt level also remains a concern. Its estimates have gone down lately.”
MCRN has been the subject of a number of other research reports. BidaskClub raised shares of Milacron Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Saturday. Robert W. Baird reissued a “buy” rating and issued a $23.00 price target on shares of Milacron Holdings Corp. in a research report on Wednesday, October 4th. Finally, TheStreet raised shares of Milacron Holdings Corp. from a “d+” rating to a “c” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Milacron Holdings Corp. presently has an average rating of “Hold” and an average price target of $22.00.
Shares of Milacron Holdings Corp. (MCRN) traded up 2.83% during mid-day trading on Wednesday, reaching $18.50. The company had a trading volume of 567,143 shares. The company’s 50-day moving average price is $16.84 and its 200-day moving average price is $16.84. The company’s market capitalization is $1.28 billion. Milacron Holdings Corp. has a 52-week low of $12.43 and a 52-week high of $19.57.
Milacron Holdings Corp. (NYSE:MCRN) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. The business had revenue of $309.20 million during the quarter, compared to analyst estimates of $308.25 million. Milacron Holdings Corp. had a negative net margin of 0.57% and a negative return on equity of 53.40%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts forecast that Milacron Holdings Corp. will post $1.61 earnings per share for the current fiscal year.
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In related news, major shareholder Ccmp Capital, Lp sold 7,545,124 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $16.71, for a total value of $126,079,022.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Waters S. Iv Davis sold 13,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $15.99, for a total transaction of $215,865.00. The disclosure for this sale can be found here. Insiders sold 7,606,624 shares of company stock valued at $127,052,807 in the last three months. Company insiders own 3.40% of the company’s stock.
A number of large investors have recently bought and sold shares of MCRN. Westfield Capital Management Co. LP acquired a new position in Milacron Holdings Corp. in the second quarter worth about $18,531,000. Vanguard Group Inc. increased its holdings in shares of Milacron Holdings Corp. by 55.2% during the first quarter. Vanguard Group Inc. now owns 2,851,861 shares of the industrial products company’s stock worth $53,072,000 after buying an additional 1,014,285 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Milacron Holdings Corp. by 89.6% during the second quarter. Wells Fargo & Company MN now owns 1,904,790 shares of the industrial products company’s stock worth $33,505,000 after buying an additional 900,197 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Milacron Holdings Corp. by 133,093.1% during the second quarter. Royal Bank of Canada now owns 737,890 shares of the industrial products company’s stock worth $12,979,000 after buying an additional 737,336 shares in the last quarter. Finally, FMR LLC acquired a new stake in shares of Milacron Holdings Corp. during the second quarter worth approximately $10,556,000.
About Milacron Holdings Corp.
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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