Zacks Investment Research downgraded shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a report issued 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. “
LABL has been the subject of several other research reports. Robert W. Baird restated a hold rating and set a $80.00 price objective on shares of Multi-Color in a research report on Friday, November 10th. BidaskClub raised shares of Multi-Color from a strong sell rating to a sell rating in a research report on Friday, December 22nd. BMO Capital Markets reissued a hold rating and set a $88.00 target price on shares of Multi-Color in a research report on Monday, September 25th. Finally, Hilliard Lyons raised shares of Multi-Color from a neutral rating to a buy rating in a research report on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $81.25.
Multi-Color (NASDAQ LABL) traded down $1.65 during trading hours on Tuesday, reaching $74.00. 8,982 shares of the company were exchanged, compared to its average volume of 105,722. Multi-Color has a 12 month low of $63.05 and a 12 month high of $89.70. 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 stock has a market capitalization of $1,584.15 and a PE ratio of 22.32.
Multi-Color (NASDAQ:LABL) last posted its earnings results on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. The firm had revenue of $256.03 million for the quarter, compared to analysts’ expectations of $246.61 million. During the same period in the previous year, the company earned $0.99 EPS. The company’s revenue was up 10.3% on a year-over-year basis. equities analysts anticipate that Multi-Color will post 3.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Wednesday, February 14th. Multi-Color’s dividend payout ratio (DPR) is presently 5.90%.
In other news, CEO Michael Julian Henry acquired 1,000 shares of the stock in a transaction on Monday, November 13th. The stock was bought at an average price of $71.03 per share, with a total value of $71,030.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Buck sold 9,530 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total transaction of $686,731.80. Following the completion of the sale, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC boosted its position in Multi-Color by 2.9% during 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 acquiring an additional 1,040 shares during the period. Prudential Financial Inc. lifted its holdings in 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 buying an additional 5,050 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in 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 buying an additional 9,714 shares during the period. Pictet Asset Management Ltd. lifted its holdings in 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 buying an additional 55,428 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Multi-Color by 3.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 71,340 shares of the business services provider’s stock worth $5,846,000 after buying an additional 2,240 shares during the period. 63.48% of the stock is owned by institutional investors.
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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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