BidaskClub Downgrades Multi-Color (LABL) to Strong Sell

BidaskClub lowered shares of Multi-Color (NASDAQ:LABL) from a sell rating to a strong sell rating in a report issued on Monday morning.

A number of other research analysts have also commented on LABL. ValuEngine lowered shares of Multi-Color from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Multi-Color from a sell rating to a hold rating in a research report on Wednesday, April 11th. Robert W. Baird reduced their price target on shares of Multi-Color from $80.00 to $75.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Sidoti upgraded shares of Multi-Color from a neutral rating to a buy rating and set a $80.00 price target for the company in a research report on Monday, March 5th. Finally, BMO Capital Markets reduced their price target on shares of Multi-Color from $88.00 to $75.00 and set a market perform rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $77.40.

Shares of Multi-Color traded down $0.10, reaching $63.85, during mid-day trading on Monday, according to Marketbeat. 1,600 shares of the stock traded hands, compared to its average volume of 119,304. The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.71 and a beta of 0.88. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.94 and a quick ratio of 1.41. Multi-Color has a 1 year low of $63.25 and a 1 year high of $64.45.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be given a $0.05 dividend. The ex-dividend date is Monday, May 14th. This represents a $0.20 annualized dividend and a yield of 0.31%. Multi-Color’s dividend payout ratio (DPR) is presently 5.54%.

In related news, Director Ari J. Benacerraf bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $65.20 per share, for a total transaction of $260,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Oliver Apel bought 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $66.68 per share, with a total value of $73,348.00. Following the completion of the transaction, the chief operating officer now directly owns 1,100 shares of the company’s stock, valued at approximately $73,348. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Eaton Vance Management grew its position in Multi-Color by 6.0% in the fourth quarter. Eaton Vance Management now owns 300,105 shares of the business services provider’s stock worth $22,463,000 after acquiring an additional 16,981 shares in the last quarter. California Public Employees Retirement System grew its position in Multi-Color by 7.1% in the third quarter. California Public Employees Retirement System now owns 38,120 shares of the business services provider’s stock worth $3,124,000 after acquiring an additional 2,520 shares in the last quarter. Standard Life Aberdeen plc grew its position in Multi-Color by 5.5% in the fourth quarter. Standard Life Aberdeen plc now owns 756,522 shares of the business services provider’s stock worth $56,625,000 after acquiring an additional 39,251 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Multi-Color by 17.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,232,241 shares of the business services provider’s stock worth $167,083,000 after acquiring an additional 332,879 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its position in Multi-Color by 16.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 24,093 shares of the business services provider’s stock worth $1,803,000 after acquiring an additional 3,325 shares in the last quarter. Institutional investors own 67.32% of the company’s stock.

About Multi-Color

Multi-Color Corporation provides various label solutions. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; shrink sleeve labels; cut and stack glue-applied labels comprising peel-away promotional labels, thermochromics, holographics, and metalized films; and promotional products, such as scratch-off coupons, static-clings, and tags.

Analyst Recommendations for Multi-Color (NASDAQ:LABL)

Receive News & Ratings for Multi-Color Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply