Multi-Color Corporation (NASDAQ:LABL)‘s stock had its “hold” rating reaffirmed by stock analysts at Robert W. Baird in a research report issued to clients and investors on Thursday. They presently have a $85.00 price target on the business services provider’s stock. Robert W. Baird’s price objective points to a potential upside of 1.31% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Monday, September 4th. BidaskClub cut shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $88.00 price objective on shares of Multi-Color Corporation in a report on Monday, September 25th. Finally, KeyCorp reiterated a “sell” rating and issued a $67.00 price objective on shares of Multi-Color Corporation in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.00.
Shares of Multi-Color Corporation (NASDAQ LABL) traded down 1.07% during midday trading on Thursday, reaching $83.00. The company’s stock had a trading volume of 26,702 shares. The company has a market capitalization of $1.41 billion, a P/E ratio of 23.92 and a beta of 0.80. The stock has a 50 day moving average of $81.34 and a 200-day moving average of $79.34. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25.
Multi-Color Corporation (NASDAQ:LABL) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.95 earnings per share. On average, equities research analysts anticipate that Multi-Color Corporation will post $3.98 earnings per share for the current year.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction that occurred 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 approximately $4,357,211.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nigel A. Vinecombe sold 10,301 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $82.06, for a total transaction of $845,300.06. Following the completion of the sale, the insider now owns 54,309 shares of the company’s stock, valued at approximately $4,456,596.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,846 shares of company stock valued at $5,194,386. 19.40% of the stock is owned by insiders.
Several large investors have recently modified their holdings of LABL. BlackRock Inc. lifted its position in shares of Multi-Color Corporation by 125,662.5% in the 1st quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock valued at $114,113,000 after acquiring an additional 1,605,967 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in Multi-Color Corporation by 35.1% in the 2nd quarter. Pictet Asset Management Ltd. now owns 114,723 shares of the business services provider’s stock worth $9,855,000 after buying an additional 29,791 shares in the last quarter. Tributary Capital Management LLC lifted its position in Multi-Color Corporation by 12.0% in the 2nd quarter. Tributary Capital Management LLC now owns 264,577 shares of the business services provider’s stock worth $21,589,000 after buying an additional 28,449 shares in the last quarter. AMI Asset Management Corp lifted its position in Multi-Color Corporation by 20.0% in the 2nd quarter. AMI Asset Management Corp now owns 161,258 shares of the business services provider’s stock worth $13,159,000 after buying an additional 26,849 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Multi-Color Corporation by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after buying an additional 25,470 shares in the last quarter. Institutional investors and hedge funds own 73.35% of the company’s stock.
Multi-Color Corporation Company Profile
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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