Multi-Color Corporation (NASDAQ:LABL)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a report released on Wednesday, October 25th. They currently have a $88.00 target price on the business services provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 23.25% from the stock’s current price.
LABL has been the topic of several other research reports. BidaskClub cut shares of Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. KeyCorp reiterated a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a research note on Friday, August 25th. Finally, Robert W. Baird reiterated a “hold” rating and set a $85.00 price target on shares of Multi-Color Corporation in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Multi-Color Corporation presently has a consensus rating of “Hold” and a consensus target price of $82.75.
Shares of Multi-Color Corporation (NASDAQ:LABL) traded down $0.45 during mid-day trading on Wednesday, reaching $71.40. 50,300 shares of the company traded hands, compared to its average volume of 73,437. Multi-Color Corporation has a 52 week low of $63.05 and a 52 week high of $88.25. The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1,468.66, a PE ratio of 19.96 and a beta of 0.78.
Multi-Color Corporation (NASDAQ:LABL) last issued its earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). The company had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. Multi-Color Corporation had a return on equity of 15.52% and a net margin of 6.10%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. analysts predict that Multi-Color Corporation will post 3.83 EPS for the current year.
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In other Multi-Color Corporation news, Chairman Nigel A. Vinecombe sold 3,081 shares of Multi-Color Corporation stock in a transaction on Monday, September 25th. The shares were sold at an average price of $82.15, for a total value of $253,104.15. Following the sale, the chairman now directly owns 54,309 shares in the company, valued at approximately $4,461,484.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $80.23, for a total transaction of $2,005,750.00. Following the completion of the sale, the insider now owns 54,309 shares in the company, valued at $4,357,211.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,846 shares of company stock worth $5,194,386. 19.40% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC increased its holdings in shares of Multi-Color Corporation by 2.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 36,387 shares of the business services provider’s stock worth $2,969,000 after buying an additional 1,040 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Multi-Color Corporation by 5.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 7,450 shares of the business services provider’s stock worth $529,000 after buying an additional 410 shares during the last quarter. Fenimore Asset Management Inc. increased its holdings in shares of Multi-Color Corporation by 3.1% in the 2nd quarter. Fenimore Asset Management Inc. now owns 107,189 shares of the business services provider’s stock worth $8,747,000 after buying an additional 3,205 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Multi-Color Corporation by 100.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock worth $163,000 after buying an additional 1,150 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Multi-Color Corporation by 8.1% in the 2nd quarter. Swiss National Bank now owns 24,000 shares of the business services provider’s stock worth $1,958,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.
Multi-Color Corporation Company Profile
Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
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