Shares of Multi-Color Co. (NASDAQ:LABL) hit a new 52-week low during trading on Thursday . The stock traded as low as $57.08 and last traded at $57.01, with a volume of 2188 shares traded. The stock had previously closed at $59.61.
LABL has been the subject of several research reports. KeyCorp cut Multi-Color from a “sector weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a research report on Wednesday, August 15th. Zacks Investment Research upgraded Multi-Color from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. BidaskClub upgraded Multi-Color from a “strong sell” rating to a “sell” rating in a report on Friday, August 24th. Finally, ValuEngine cut Multi-Color from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Multi-Color currently has an average rating of “Hold” and an average target price of $72.00.
The company has a debt-to-equity ratio of 2.21, a current ratio of 1.97 and a quick ratio of 1.49. The firm has a market cap of $1.28 billion, a PE ratio of 14.83 and a beta of 0.67.
Multi-Color (NASDAQ:LABL) last issued its earnings results on Tuesday, August 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. The company had revenue of $456.13 million during the quarter, compared to analysts’ expectations of $442.85 million. Multi-Color had a return on equity of 11.70% and a net margin of 5.02%. On average, analysts forecast that Multi-Color Co. will post 4.31 EPS for the current year.
In other Multi-Color news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $60.88, for a total value of $1,522,000.00. Following the completion of the sale, the insider now directly owns 62,190 shares in the company, valued at approximately $3,786,127.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 32.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of LABL. Sei Investments Co. lifted its stake in shares of Multi-Color by 19.5% in the 2nd quarter. Sei Investments Co. now owns 4,820 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 785 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Multi-Color by 9.6% in the 1st quarter. OppenheimerFunds Inc. now owns 9,729 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 855 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Multi-Color by 6.2% in the 2nd quarter. Legal & General Group Plc now owns 27,399 shares of the business services provider’s stock valued at $1,777,000 after purchasing an additional 1,591 shares during the last quarter. Barclays PLC lifted its stake in shares of Multi-Color by 63.4% in the 1st quarter. Barclays PLC now owns 4,269 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in shares of Multi-Color by 12.2% in the 1st quarter. Suntrust Banks Inc. now owns 18,400 shares of the business services provider’s stock valued at $1,215,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.
Multi-Color Company Profile (NASDAQ:LABL)
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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