Zacks Investment Research lowered shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a report issued on Tuesday.
According to Zacks, “Multi-Color is one of the largest producers of printed labels for branded consumer products in the United States. Labels printed by the Company appear principally on mass-marketed products for which label appearance is a significant element of product marketing and merchandising. Multi-Color produces labels for a variety of consumer products including liquid detergents, fabric softeners, food products, liquid cleaners, anti-freeze and chewing gum. “
A number of other research analysts also recently commented on the company. Hilliard Lyons raised Multi-Color from a neutral rating to a buy rating in a report on Monday. BidaskClub raised Multi-Color from a strong sell rating to a sell rating in a report on Friday, December 22nd. Robert W. Baird reissued a hold rating and issued a $80.00 price target on shares of Multi-Color in a report on Friday, November 10th. Finally, BMO Capital Markets restated a hold rating and set a $88.00 price objective on shares of Multi-Color in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $82.75.
Shares of Multi-Color (LABL) traded down $0.30 on Tuesday, reaching $76.55. The company had a trading volume of 38,653 shares, compared to its average volume of 46,514. The stock has a market capitalization of $1,600.00, a P/E ratio of 22.51 and a beta of 0.73. Multi-Color has a 1 year low of $63.05 and a 1 year high of $88.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.96 and a quick ratio of 1.48.
Multi-Color (NASDAQ:LABL) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The business had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 EPS. sell-side analysts anticipate that Multi-Color will post 3.83 earnings per share for the current year.
In other Multi-Color news, Director Robert R. Buck sold 9,530 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $72.06, for a total transaction of $686,731.80. Following the sale, the director now owns 17,441 shares in the company, valued at $1,256,798.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Julian Henry acquired 1,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $71.03 per share, for a total transaction of $71,030.00. The disclosure for this purchase can be found here. Corporate insiders own 19.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. TIAA CREF Investment Management LLC raised its stake in Multi-Color by 2.9% during the second quarter. TIAA CREF Investment Management LLC now owns 36,387 shares of the business services provider’s stock valued at $2,969,000 after buying an additional 1,040 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Multi-Color by 22.3% during the 3rd quarter. Prudential Financial Inc. now owns 27,703 shares of the business services provider’s stock worth $2,270,000 after purchasing an additional 5,050 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Multi-Color by 45.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,099 shares of the business services provider’s stock worth $2,538,000 after purchasing an additional 9,714 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Multi-Color by 48.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after purchasing an additional 55,428 shares during the period. Finally, Swiss National Bank raised its position in shares of Multi-Color by 8.1% during the 2nd quarter. Swiss National Bank now owns 24,000 shares of the business services provider’s stock worth $1,958,000 after purchasing an additional 1,800 shares during the period. Hedge funds and other institutional investors own 63.50% of the company’s stock.
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Multi-Color 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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