Zacks Investment Research lowered shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 9th.
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. “
Other analysts have also recently issued reports about the company. BMO Capital Markets reissued a hold rating and set a $88.00 price objective on shares of Multi-Color in a report on Monday, September 25th. BidaskClub raised Multi-Color from a strong sell rating to a sell rating in a report on Friday, December 22nd. Robert W. Baird reaffirmed a hold rating and issued a $85.00 price target on shares of Multi-Color in a research note on Thursday, October 12th. Finally, Hilliard Lyons raised Multi-Color from a neutral rating to a buy rating in a research note on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Multi-Color has an average rating of Hold and an average price target of $82.75.
Shares of Multi-Color (NASDAQ:LABL) traded up $1.00 during trading hours on Tuesday, hitting $79.95. 77,605 shares of the stock traded hands, compared to its average volume of 58,773. Multi-Color has a 52 week low of $63.05 and a 52 week 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. The firm has a market cap of $1,592.32, a P/E ratio of 23.58 and a beta of 0.73.
Multi-Color (NASDAQ:LABL) last issued its quarterly 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 for the quarter, compared to analyst estimates of $246.61 million. Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. equities research analysts predict that Multi-Color will post 3.84 earnings per share for the current fiscal 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 completion of the transaction, the director now owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Julian Henry purchased 1,000 shares of Multi-Color stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $71.03 per share, with a total value of $71,030.00. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. boosted its position in Multi-Color by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after acquiring an additional 18 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Multi-Color by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 25,798 shares of the business services provider’s stock valued at $2,105,000 after buying an additional 217 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Multi-Color by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,697 shares of the business services provider’s stock valued at $220,000 after buying an additional 404 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Multi-Color by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 7,990 shares of the business services provider’s stock valued at $652,000 after buying an additional 540 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Multi-Color by 10.6% in the 2nd quarter. Voya Investment Management LLC now owns 6,680 shares of the business services provider’s stock valued at $545,000 after buying an additional 642 shares during the last quarter. 63.50% of the stock is owned by hedge funds and other institutional investors.
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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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