Core Molding Technologies (NYSEAMERICAN:CMT) Downgraded by Zacks Research to Strong Sell

Core Molding Technologies (NYSEAMERICAN:CMT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Roth Mkm boosted their price objective on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.00.

Core Molding Technologies Price Performance

Shares of NYSEAMERICAN:CMT opened at $24.41 on Monday. Core Molding Technologies has a fifty-two week low of $15.02 and a fifty-two week high of $28.69. The business has a 50-day moving average of $23.14 and a two-hundred day moving average of $20.66. The stock has a market capitalization of $217.25 million, a P/E ratio of 21.79 and a beta of 0.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95.

Core Molding Technologies (NYSEAMERICAN:CMT) last posted its quarterly earnings data on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. Core Molding Technologies had a return on equity of 6.15% and a net margin of 3.55%.The business had revenue of $74.68 million during the quarter, compared to analysts’ expectations of $66.44 million. On average, equities research analysts predict that Core Molding Technologies will post 1.07 EPS for the current fiscal year.

Core Molding Technologies declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 12th that permits the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Core Molding Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 391,207 shares of the industrial products company’s stock valued at $8,763,000 after acquiring an additional 2,922 shares during the period. Royce & Associates LP grew its stake in shares of Core Molding Technologies by 1.9% in the 4th quarter. Royce & Associates LP now owns 235,985 shares of the industrial products company’s stock valued at $4,731,000 after purchasing an additional 4,463 shares during the period. 22NW LP grew its stake in shares of Core Molding Technologies by 16.5% in the 3rd quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after purchasing an additional 31,516 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Core Molding Technologies by 17.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock valued at $3,973,000 after purchasing an additional 30,062 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Core Molding Technologies by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 183,910 shares of the industrial products company’s stock valued at $3,051,000 after purchasing an additional 4,332 shares during the period. 58.79% of the stock is currently owned by institutional investors.

About Core Molding Technologies

Core Molding Technologies is a publicly traded manufacturer specializing in engineered composite and polymer solutions for a wide array of industrial applications. The company’s core business includes the design, tooling and high-volume production of fiberglass-reinforced plastics, advanced polyurethane systems, structural composites and specialty coatings. Its products find use in commercial vehicles, off-highway equipment, defense, power sports, recreation and industrial markets.

Core Molding offers end-to-end services ranging from digital design and prototyping to mold fabrication, process development and full-scale manufacturing.