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 released on Friday. The firm presently has a $21.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.82% 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.”

MCRN has been the topic of several other reports. BidaskClub raised Milacron from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. KeyCorp reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Milacron in a research report on Friday, October 20th. TheStreet raised Milacron from a “c” rating to a “b” rating in a research report on Wednesday, December 13th. Finally, Robert W. Baird reiterated a “buy” rating and set a $23.00 target price on shares of Milacron in a research note on Wednesday, October 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $21.50.

Milacron (NYSE:MCRN) traded up $0.13 during mid-day trading on Friday, reaching $18.78. The company had a trading volume of 363,500 shares, compared to its average volume of 377,467. The company has a market cap of $1,290.00 and a PE ratio of -626.00. Milacron has a fifty-two week low of $15.09 and a fifty-two week high of $19.57. The company has a debt-to-equity ratio of -5.41, a current ratio of 2.39 and a quick ratio of 1.31.

Milacron (NYSE:MCRN) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $314.70 million for the quarter, compared to analysts’ expectations of $301.13 million. Milacron had a negative return on equity of 56.93% and a negative net margin of 0.09%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. analysts predict 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 business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $16.00, for a total transaction of $175,585,488.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira G. Boots sold 101,064 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $18.25, for a total transaction of $1,844,418.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,252,623 shares of company stock valued at $180,703,090. Company insiders own 3.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Milacron by 555.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 33,432 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 28,332 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Milacron in the 2nd quarter worth $1,159,000. Voya Investment Management LLC purchased a new stake in shares of Milacron in the 2nd quarter worth $341,000. Northern Trust Corp increased its stake in shares of Milacron by 146.0% in the 2nd quarter. Northern Trust Corp now owns 538,969 shares of the industrial products company’s stock worth $9,480,000 after purchasing an additional 319,894 shares in the last quarter. Finally, FMR LLC purchased a new stake in shares of Milacron in the 2nd quarter worth $10,556,000. Hedge funds and other institutional investors own 99.73% of the company’s stock.

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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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