Multi-Color Corporation’s (LABL) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Multi-Color Corporation (NASDAQ:LABL) in a report published on Friday. They currently have a $80.00 price target on the business services provider’s stock.
A number of other analysts also recently weighed in on LABL. Zacks Investment Research downgraded shares of Multi-Color Corporation from a buy rating to a hold rating in a report on Tuesday, August 1st. KeyCorp restated a sell rating and issued a $67.00 target price on shares of Multi-Color Corporation in a report on Friday, August 25th. Finally, BMO Capital Markets restated a hold rating and issued a $88.00 target price on shares of Multi-Color Corporation in a report on Monday, September 25th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Multi-Color Corporation currently has an average rating of Hold and a consensus target price of $82.75.
Shares of Multi-Color Corporation (LABL) opened at $71.40 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.96 and a debt-to-equity ratio of 1.13. The stock has a market cap of $1,459.46, a price-to-earnings ratio of 19.83 and a beta of 0.78. Multi-Color Corporation has a fifty-two week low of $63.05 and a fifty-two week 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 analysts’ consensus estimates 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 company had revenue of $256.03 million during the quarter, compared to the consensus estimate of $246.61 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. equities research analysts predict that Multi-Color Corporation will post 3.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. Multi-Color Corporation’s dividend payout ratio is presently 5.90%.
In related news, insider Nigel A. Vinecombe sold 14,699 shares of Multi-Color Corporation stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $82.09, for a total transaction of $1,206,640.91. Following the completion of the transaction, the insider now directly owns 54,309 shares of the company’s stock, valued at approximately $4,458,225.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Nigel A. Vinecombe sold 10,765 shares of Multi-Color Corporation stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $82.08, for a total transaction of $883,591.20. Following the transaction, the chairman now directly owns 54,309 shares of the company’s stock, valued at $4,457,682.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,846 shares of company stock valued at $5,194,386. 19.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in LABL. Acrospire Investment Management LLC purchased a new stake in Multi-Color Corporation in the 2nd quarter valued at about $105,000. SG Americas Securities LLC purchased a new stake in Multi-Color Corporation in the 3rd quarter valued at about $129,000. Pinebridge Investments L.P. boosted its position in Multi-Color Corporation by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock valued at $143,000 after buying an additional 18 shares during the period. Eqis Capital Management Inc. purchased a new stake in Multi-Color Corporation in the 3rd quarter valued at about $201,000. Finally, State of Alaska Department of Revenue boosted its position in Multi-Color Corporation by 79.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,613 shares of the business services provider’s stock valued at $213,000 after buying an additional 1,153 shares during the period. 60.66% of the stock is owned by hedge funds and other institutional investors.
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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