Multi-Color Corp. (LABL) Lowered to Underweight at KeyCorp
KeyCorp lowered shares of Multi-Color Corp. (NASDAQ:LABL) from a sector weight rating to an underweight rating in a report released on Tuesday morning. They currently have $67.00 target price on the stock.
A number of other equities analysts have also weighed in on LABL. Zacks Investment Research lowered Multi-Color Corp. from a buy rating to a hold rating in a research note on Wednesday, August 3rd. Singular Research increased their target price on Multi-Color Corp. from $67.00 to $70.00 and gave the stock a buy – long-term rating in a research note on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $67.00.
Multi-Color Corp. (NASDAQ:LABL) opened at 70.85 on Tuesday. The company has a market cap of $1.20 billion, a P/E ratio of 24.01 and a beta of 0.92. Multi-Color Corp. has a 12 month low of $40.15 and a 12 month high of $76.50. The firm has a 50-day moving average price of $68.17 and a 200 day moving average price of $65.36.
Multi-Color Corp. (NASDAQ:LABL) last announced its earnings results on Wednesday, November 9th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The company had revenue of $232.10 million for the quarter, compared to analyst estimates of $235.48 million. Multi-Color Corp. had a return on equity of 16.38% and a net margin of 5.55%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that Multi-Color Corp. will post $3.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, November 10th. Multi-Color Corp.’s dividend payout ratio is presently 6.78%.
In other Multi-Color Corp. news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $72.85, for a total value of $1,821,250.00. Following the sale, the insider now owns 13,145 shares of the company’s stock, valued at approximately $957,613.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 20.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Multi-Color Corp. by 12.0% in the third quarter. BlackRock Inc. now owns 1,575 shares of the company’s stock worth $104,000 after buying an additional 169 shares in the last quarter. PineBridge Investments L.P. purchased a new position in shares of Multi-Color Corp. during the second quarter worth approximately $106,000. Teacher Retirement System of Texas boosted its position in shares of Multi-Color Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 1,881 shares of the company’s stock worth $119,000 after buying an additional 233 shares during the last quarter. Mason Street Advisors LLC purchased a new position in shares of Multi-Color Corp. during the second quarter worth approximately $163,000. Finally, Sei Investments Co. boosted its position in shares of Multi-Color Corp. by 3.9% in the third quarter. Sei Investments Co. now owns 2,676 shares of the company’s stock worth $176,000 after buying an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
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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