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HI

Hillenbrand

$38.83

-0.46 (-1.17%)

, MCRN

Milacron

$13.54

-0.395 (-2.84%)

07:10
07/12/19
07/12
07:10
07/12/19
07:10

Hillenbrand, Milacron deal seen delivering double-digit adjusted EPS accretion

The transaction is expected to deliver double-digit Adjusted EPS accretion in the first year following close and will immediately improve Adjusted EBITDA margin. Hillenbrand (HI) anticipates further margin improvement as the combined company leverages scale and realizes cost savings. Hillenbrand expects to generate free cash flow greater than $325M by 2021, retain its investment-grade credit rating, and deploy cash flow aligned with its capital allocation strategy, including maintaining its quarterly dividend. Hillenbrand expects to refinance Milacron's (MCRN) outstanding debt at close and reduce net leverage to below 2.75x within 12 months post-close. Milacron will benefit from the Hillenbrand Operating Model, and Hillenbrand expects to leverage Milacron's global shared services center to drive operational efficiency. The transaction is expected to generate annualized, run-rate cost synergies of approximately $50M within three years following close, primarily through reducing public company costs, realizing operating efficiencies, and capturing direct and indirect spend opportunities. The transaction is also expected to generate revenue synergies, driven by opportunities to cross-sell extruder and material handling equipment, and to leverage the combined service footprint to further penetrate the product aftermarket. These efficiencies will be driven across the combined organization through utilizing the HOM, while maintaining a commitment to serving customers with excellence and innovation.

HI

Hillenbrand

$38.83

-0.46 (-1.17%)

MCRN

Milacron

$13.54

-0.395 (-2.84%)

HI Hillenbrand
$38.83

-0.46 (-1.17%)

05/16/19
05/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Jefferies starts 'underappreciated' Par Technology (PAR) with Buy rating. 2. Ichor Holdings (ICHR) initiated with a Buy at B. Riley FBR. 3. T2 Biosystems (TTOO) initiated with a Buy at Alliance Global Partners. 4. CV Sciences (CVSI) initiated with a Buy at Roth Capital. 5. Hillenbrand (HI) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/20/19
DADA
05/20/19
INITIATION
Target $43
DADA
Neutral
Hillenbrand initiated with a Neutral at DA Davidson
DA Davidson initiated Hillenbrand with a Neutral and $43 price target.
05/21/19
05/21/19
INITIATION
Target $43

Neutral
Hillenbrand initiated with a Neutral at DA Davidson
As previously reported, DA Davidson analyst Matt Summerville initiated Hillenbrand with a Neutral rating and a price target of $43. The analyst notes that the all-time record backlog in the company's Process Equipment Group segment supports its mid-single-digit organic growth, with "large plastics projects" as well as high win rates and share gains, but sees its Batesville segment facing "long-term secular challenges" with volume erosion driven margin pressure. While Summerville remains positive on Hillenbrand's "healthy" balance sheet and M&A appetite, he warns that the company's Batesville segment may see low-single-digit organic sales decline in each year of his outlook.
05/21/19
05/21/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Uber (UBER) initiated with an Equal Weight at Consumer Edge and a Neutral at Susquehanna. 2. Incyte (INCY) initiated with a Neutral at Credit Suisse. 3. Hillenbrand (HI) initiated with a Neutral at DA Davidson. 4. Target Hospitality (TH) initiated with a Buy at Deutsche Bank. 5. Jack in the Box (JACK) reinstated with an Equal Weight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MCRN Milacron
$13.54

-0.395 (-2.84%)

04/02/19
BARD
04/02/19
NO CHANGE
Target $21
BARD
Outperform
China data, plastics trends positive indicators for Milacron, says Baird
Baird analyst Michael Halloran noted that China's core PMI improved sequentially for the second consecutive month in March and that February's Plastics Processors Index remained in expansionary territory. Taking both data points together gives him incremental confidence that Milacron's underlying estimates are achievable in 2019, Halloran tells investors. The analyst, who thinks Milacron's core franchise value is underappreciated, keeps an Outperform rating and $21 price target on the shares.
04/17/19
KEYB
04/17/19
NO CHANGE
KEYB
Ametek, ITT among top potential acquirers in industrial space, says KeyBanc
KeyBanc analysts Jeff Hammond and Steve Barger think moderating organic growth expectations in 2019 due to tough year over year comps may drive industrials to increasingly look toward inorganic avenues for market outgrowth, or to potentially divest businesses to right-size portfolios. The analysts view Ametek (AME), ITT (ITT), Graco (GGG), and Timken (TKR) as the top potential acquirers, and think Actuant (ATU), Colfax (CFX), Eaton (ETN), Kaman (KAMN), NN, Inc. (NNBR), and Milacron (MCRN) could benefit most from a strategic divestiture.

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NLS

Nautilus

$1.74

0.09 (5.45%)

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SND

Smart Sand

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-0.04 (-1.67%)

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OPRA

Opera

$10.59

-0.16 (-1.49%)

04:39
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ARLP

Alliance Resource Partners

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-0.26 (-1.48%)

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WFC

Wells Fargo

$45.30

-1.4 (-3.00%)

04:33
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  • 12

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DOYU

DouYu

$0.00

(0.00%)

04:29
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Syndicate
DouYu 67.387M share IPO priced at $11.50 »

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AVRO

Avrobio

$19.08

2.66 (16.20%)

04:25
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Syndicate
Avrobio 6.5M share Secondary priced at $18.50 »

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RGEN

Repligen

$88.44

2.57 (2.99%)

04:23
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Syndicate
Repligen 1.38M share Secondary priced at $87.00 »

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General news
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ATEX

Anterix

$46.95

-0.66 (-1.39%)

21:10
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Syndicate
Anterix 2.22M share Secondary priced at $45.00 »

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TNXP

Tonix Pharmaceuticals

$0.57

-0.4087 (-41.75%)

21:08
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Syndicate
Tonix Pharmaceuticals 9M share Secondary priced at $0.60 »

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HTHT

Huazhu Group

$34.88

0.23 (0.66%)

21:05
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Earnings
Huazhu Group sees Q2 revenue growth of 13%-15% »

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PS

Pluralsight

$30.66

-0.71 (-2.26%)

20:58
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Initiation
Pluralsight initiated at KeyBanc »

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  • 31

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TWOU

2U

$38.60

-0.34 (-0.87%)

20:57
07/16/19
07/16
20:57
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20:57
Initiation
2U initiated at KeyBanc »

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BVN

Buenaventura

$16.31

-0.03 (-0.18%)

20:36
07/16/19
07/16
20:36
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20:36
Hot Stocks
Buenaventura reports Q2 Orcopampa gold production 10.7K oz vs. 5.9K in Q1 »

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  • 26

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HOPE

Hope Bancorp

$13.96

0.2 (1.45%)

20:33
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  • 17

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Conference/Events
CLSA Asian tech analyst team to hold an analyst/industry conference call »

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

, ABT

Abbott

$83.11

-0.69 (-0.82%)

20:25
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07/16
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Earnings
Notable companies reporting before tomorrow's open »

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

ABT

Abbott

$83.11

-0.69 (-0.82%)

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

PNC

PNC Financial

$138.66

-1.52 (-1.08%)

PGR

Progressive

$84.11

0.105 (0.12%)

BK

BNY Mellon

$43.13

-0.02 (-0.05%)

OMC

Omnicom

$84.08

0.065 (0.08%)

TXT

Textron

$54.02

0.59 (1.10%)

CMA

Comerica

$71.75

0.39 (0.55%)

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SCGLY

Societe Generale

$0.00

(0.00%)

20:08
07/16/19
07/16
20:08
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20:08
Upgrade
Societe Generale rating change at JPMorgan »

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SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

, SPX

S&P 500

$0.00

(0.00%)

20:06
07/16/19
07/16
20:06
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20:06
Periodicals
SF Fed President Daly not leaning in either direction on rates, Reuters says »

In a Reuters interview,…

SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

SPX

S&P 500

$0.00

(0.00%)

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WAFD

Washington Federal

$34.63

0.02 (0.06%)

20:02
07/16/19
07/16
20:02
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20:02
Earnings
Washington Federal reports Q3 EPS 67c, consensus 64c »

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PAGS

PagSeguro Digital

$44.72

0.755 (1.72%)

19:16
07/16/19
07/16
19:16
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19:16
Initiation
PagSeguro Digital initiated at Evercore ISI »

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

, CTAS

Cintas

$239.46

-3.85 (-1.58%)

18:50
07/16/19
07/16
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18:50
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

CTAS

Cintas

$239.46

-3.85 (-1.58%)

UAL

United Continental

$94.00

2.7 (2.96%)

QCOM

Qualcomm

$75.66

0.23 (0.30%)

NUS

Nu Skin

$45.50

1.44 (3.27%)

SENS

Senseonics

$1.68

-0.075 (-4.29%)

CSX

CSX

$79.57

1.05 (1.34%)

IBKR

Interactive Brokers

$50.72

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INO

Inovio

$3.00

0.05 (1.69%)

TELL

Tellurian

$7.68

-0.1 (-1.29%)

WB

Weibo

$41.57

-1.47 (-3.42%)

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