Zacks Investment Research Downgrades Multi-Color Corp. (LABL) to Hold
Multi-Color Corp. (NASDAQ:LABL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Multi-Color is one of the largest producers of printed labels for branded consumer products in the United States. Labels printed by the Company appear principally on mass-marketed products for which label appearance is a significant element of product marketing and merchandising. Multi-Color produces labels for a variety of consumer products including liquid detergents, fabric softeners, food products, liquid cleaners, anti-freeze and chewing gum. “
Separately, Singular Research lifted their price objective on Multi-Color Corp. from $67.00 to $70.00 and gave the stock a “buy – long-term” rating in a report on Wednesday, August 17th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $67.00.
Shares of Multi-Color Corp. (NASDAQ:LABL) opened at 72.90 on Wednesday. The firm has a 50-day moving average price of $65.80 and a 200 day moving average price of $64.15. Multi-Color Corp. has a 12 month low of $40.16 and a 12 month high of $74.00. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 24.63 and a beta of 0.92.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The company had revenue of $232.10 million for the quarter, compared to the consensus estimate of $235.48 million. Multi-Color Corp. had a return on equity of 16.75% and a net margin of 5.55%. Multi-Color Corp.’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that Multi-Color Corp. will post $3.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date is Thursday, November 10th. Multi-Color Corp.’s dividend payout ratio is 6.78%.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of Multi-Color Corp. by 179.8% in the second quarter. BlackRock Fund Advisors now owns 845,833 shares of the company’s stock valued at $53,626,000 after buying an additional 543,586 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Multi-Color Corp. by 30,807.3% in the second quarter. Royal Bank of Canada now owns 427,448 shares of the company’s stock valued at $27,100,000 after buying an additional 426,065 shares in the last quarter. Waddell & Reed Financial Inc. bought a new stake in shares of Multi-Color Corp. during the second quarter valued at approximately $7,595,000. Vanguard Group Inc. raised its position in Multi-Color Corp. by 24.9% in the second quarter. Vanguard Group Inc. now owns 583,873 shares of the company’s stock worth $37,017,000 after buying an additional 116,458 shares in the last quarter. Finally, RMB Capital Management LLC raised its position in Multi-Color Corp. by 312.0% in the third quarter. RMB Capital Management LLC now owns 131,740 shares of the company’s stock worth $8,695,000 after buying an additional 99,767 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Multi-Color Corp. 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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