Multi-Color Corp. (LABL) Downgraded by Zacks Investment Research to Sell
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 target on shares of Multi-Color Corp. from $67.00 to $70.00 and gave the company a buy – long-term rating in a research report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $67.00.
Shares of Multi-Color Corp. (NASDAQ:LABL) traded up 1.45% during midday trading on Wednesday, hitting $73.35. 10,874 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $66.20 and its 200-day moving average is $64.59. Multi-Color Corp. has a 1-year low of $40.15 and a 1-year high of $74.95. The stock has a market cap of $1241.89 billion, a PE ratio of 21.90 and a beta of 0.92.
Multi-Color Corp. (NASDAQ:LABL) last released its earnings results on Wednesday, November 9th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. Multi-Color Corp. had a net margin of 5.55% and a return on equity of 16.38%. The business had revenue of $232.10 million for the quarter, compared to analysts’ expectations of $235.48 million. Multi-Color Corp.’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts predict that Multi-Color Corp. will post $3.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. Multi-Color Corp.’s payout ratio is currently 6.78%.
In other news, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $72.85, for a total transaction of $1,821,250.00. Following the transaction, the insider now directly owns 13,145 shares of the company’s stock, valued at $957,613.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 20.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Multi-Color Corp. by 30.4% in the first quarter. JPMorgan Chase & Co. now owns 22,260 shares of the company’s stock worth $1,188,000 after buying an additional 5,190 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Multi-Color Corp. by 2,459.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,403 shares of the company’s stock worth $279,000 after buying an additional 4,231 shares during the last quarter. Capstone Asset Management Co. purchased a new position in Multi-Color Corp. during the second quarter worth approximately $260,000. Fenimore Asset Management Inc. boosted its position in Multi-Color Corp. by 5.1% in the second quarter. Fenimore Asset Management Inc. now owns 103,609 shares of the company’s stock worth $6,569,000 after buying an additional 5,029 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in Multi-Color Corp. by 62.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 13,670 shares of the company’s stock worth $867,000 after buying an additional 5,280 shares during the last quarter. 75.64% of the stock is currently owned by institutional investors and hedge funds.
About Multi-Color Corp.
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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