Zacks Investment Research upgraded shares of Milacron (NYSE:MCRN) from a hold rating to a strong-buy rating in a research report report published on Tuesday, February 27th. They currently have $25.00 target price on the industrial products company’s stock.
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. “
Other analysts have also recently issued reports about the company. TheStreet upgraded Milacron from a c rating to a b rating in a report on Wednesday, December 13th. KeyCorp restated a buy rating and set a $24.00 price target on shares of Milacron in a report on Friday, February 23rd. BidaskClub cut Milacron from a buy rating to a hold rating in a report on Tuesday, November 14th. Finally, ValuEngine upgraded Milacron from a buy rating to a strong-buy rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $24.00.
Milacron (NYSE:MCRN) last released its earnings results on Tuesday, February 20th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. Milacron had a negative return on equity of 62.36% and a net margin of 0.09%. The firm had revenue of $324.90 million for the quarter, compared to analysts’ expectations of $302.91 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. equities research analysts forecast that Milacron will post 1.87 EPS for the current year.
In related news, CFO Bruce A. Chalmers sold 2,054 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $21.12, for a total value of $43,380.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Goeke sold 7,800 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $21.09, for a total value of $164,502.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,232 shares of company stock worth $2,088,200. Company insiders own 3.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Milacron in the third quarter valued at approximately $101,000. Quantbot Technologies LP bought a new stake in Milacron in the third quarter valued at approximately $132,000. Xact Kapitalforvaltning AB bought a new stake in Milacron in the fourth quarter valued at approximately $193,000. OppenheimerFunds Inc. bought a new stake in Milacron in the fourth quarter valued at approximately $201,000. Finally, UBS Asset Management Americas Inc. bought a new stake in Milacron in the second quarter valued at approximately $201,000.
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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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