Zacks Investment Research upgraded shares of Multi-Color (NASDAQ:LABL) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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 equities research analysts have also weighed in on LABL. ValuEngine raised shares of Multi-Color from a strong sell rating to a sell rating in a research note on Friday, August 10th. BidaskClub lowered shares of Multi-Color from a sell rating to a strong sell rating in a research note on Tuesday, July 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of Multi-Color in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Multi-Color currently has a consensus rating of Hold and a consensus target price of $72.00.
Shares of LABL traded down $1.23 during trading hours on Wednesday, reaching $55.75. 78,649 shares of the company traded hands, compared to its average volume of 109,715. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.83 and a beta of 0.67. The company has a current ratio of 1.97, a quick ratio of 1.49 and a debt-to-equity ratio of 2.21. Multi-Color has a 12 month low of $55.11 and a 12 month high of $89.70.
Multi-Color (NASDAQ:LABL) last announced its earnings results on Tuesday, August 7th. The business services provider reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $456.13 million for the quarter, compared to analyst estimates of $442.85 million. Multi-Color had a net margin of 5.02% and a return on equity of 11.70%. On average, research analysts forecast that Multi-Color will post 4.31 EPS for the current fiscal year.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $60.88, for a total transaction of $1,522,000.00. Following the completion of the transaction, the insider now directly owns 62,190 shares of the company’s stock, valued at approximately $3,786,127.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 32.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in Multi-Color by 13.6% in the second quarter. FMR LLC now owns 2,011,782 shares of the business services provider’s stock worth $130,062,000 after buying an additional 240,099 shares during the last quarter. BlackRock Inc. raised its holdings in Multi-Color by 8.6% in the second quarter. BlackRock Inc. now owns 1,935,538 shares of the business services provider’s stock worth $125,133,000 after buying an additional 153,887 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Multi-Color by 3.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,004,943 shares of the business services provider’s stock worth $64,970,000 after buying an additional 31,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Multi-Color by 25.8% in the second quarter. Dimensional Fund Advisors LP now owns 933,600 shares of the business services provider’s stock worth $60,358,000 after buying an additional 191,424 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Multi-Color by 4.7% in the first quarter. Royal Bank of Canada now owns 466,307 shares of the business services provider’s stock worth $30,799,000 after buying an additional 21,067 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
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