Shares of Multi-Color Corporation (NASDAQ:LABL) have been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $73.50.
Several research firms have recently commented on LABL. Zacks Investment Research upgraded shares of Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Friday, June 2nd. BidaskClub lowered shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Robert W. Baird restated a “hold” rating on shares of Multi-Color Corporation in a research report on Friday. Finally, KeyCorp restated a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a research report on Friday, August 25th.
In related news, Director Charles B. Connolly sold 8,700 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.06, for a total value of $740,022.00. Following the completion of the transaction, the director now owns 3,470 shares in the company, valued at approximately $295,158.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sharon E. Birkett sold 5,000 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $86.20, for a total transaction of $431,000.00. Following the completion of the transaction, the chief financial officer now owns 6,342 shares of the company’s stock, valued at approximately $546,680.40. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its position in shares of Multi-Color Corporation by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock worth $103,000 after buying an additional 40 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Multi-Color Corporation during the second quarter worth about $105,000. US Bancorp DE raised its position in shares of Multi-Color Corporation by 88.7% in the first quarter. US Bancorp DE now owns 1,838 shares of the business services provider’s stock worth $130,000 after buying an additional 864 shares in the last quarter. Pinebridge Investments L.P. raised its position in shares of Multi-Color Corporation by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after buying an additional 18 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Multi-Color Corporation by 100.6% in the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock worth $163,000 after buying an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 73.64% of the company’s stock.
Shares of Multi-Color Corporation (LABL) opened at 80.70 on Friday. The stock has a market cap of $1.38 billion, a P/E ratio of 23.26 and a beta of 0.83. The stock has a 50 day moving average of $78.86 and a 200 day moving average of $77.30. Multi-Color Corporation has a one year low of $63.05 and a one year high of $88.25.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities analysts expect that Multi-Color Corporation will post $3.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Multi-Color Corporation’s dividend payout ratio is currently 5.76%.
About Multi-Color Corporation
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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