Multi-Color Corporation (NASDAQ:LABL) Rating Reiterated by BMO Capital Markets

Multi-Color Corporation (NASDAQ:LABL)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a research note issued to investors on Wednesday, October 25th. They presently have a $88.00 price objective on the business services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 23.25% from the stock’s current price.

Several other equities research analysts have also weighed in on LABL. Zacks Investment Research lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird reiterated a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. KeyCorp reiterated a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a report on Friday, August 25th. Finally, BidaskClub lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.75.

Multi-Color Corporation (NASDAQ:LABL) opened at $71.40 on Wednesday. The firm has a market capitalization of $1,459.49, a PE ratio of 19.83 and a beta of 0.78. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 1.96. Multi-Color Corporation has a 12 month low of $63.05 and a 12 month high of $88.25.

Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). Multi-Color Corporation 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 analyst estimates of $246.61 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. equities research analysts forecast that Multi-Color Corporation will post 3.85 earnings per share for the current year.

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In other Multi-Color Corporation news, Chairman Nigel A. Vinecombe sold 3,081 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $82.15, for a total value of $253,104.15. Following the sale, the chairman now directly owns 54,309 shares in the company, valued at $4,461,484.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $80.23, for a total value of $2,005,750.00. Following the completion of the sale, the insider now owns 54,309 shares in the company, valued at $4,357,211.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,846 shares of company stock worth $5,194,386. 19.40% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Multi-Color Corporation by 10.9% during the third quarter. Wells Fargo & Company MN now owns 54,968 shares of the business services provider’s stock worth $4,504,000 after purchasing an additional 5,421 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Multi-Color Corporation during the third quarter worth $514,000. JPMorgan Chase & Co. lifted its stake in shares of Multi-Color Corporation by 113.8% during the third quarter. JPMorgan Chase & Co. now owns 29,875 shares of the business services provider’s stock valued at $2,447,000 after acquiring an additional 15,903 shares during the period. Legal & General Group Plc lifted its stake in shares of Multi-Color Corporation by 3.6% during the third quarter. Legal & General Group Plc now owns 25,053 shares of the business services provider’s stock valued at $2,053,000 after acquiring an additional 877 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Multi-Color Corporation by 3.2% during the third quarter. Ameriprise Financial Inc. now owns 71,340 shares of the business services provider’s stock valued at $5,846,000 after acquiring an additional 2,240 shares during the period. Institutional investors own 73.76% of the company’s stock.

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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