Multi-Color Corporation (LABL) Given “Sell” Rating at KeyCorp
KeyCorp reaffirmed their sell rating on shares of Multi-Color Corporation (NASDAQ:LABL) in a research report sent to investors on Friday. KeyCorp currently has a $67.00 target price on the business services provider’s stock.
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Multi-Color Corporation from a buy rating to a hold rating in a report on Thursday, June 22nd. Zacks Investment Research raised Multi-Color Corporation from a hold rating to a buy rating and set a $96.00 target price on the stock in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $78.50.
Shares of Multi-Color Corporation (NASDAQ:LABL) opened at 78.15 on Friday. The firm has a 50-day moving average price of $79.06 and a 200 day moving average price of $77.16. Multi-Color Corporation has a 12 month low of $63.05 and a 12 month high of $88.25. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.52 and a beta of 0.83.
Multi-Color Corporation (NASDAQ:LABL) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. The business had revenue of $242.40 million for the quarter, compared to the consensus estimate of $242.47 million. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. On average, analysts anticipate that Multi-Color Corporation will post $3.98 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, August 11th. Multi-Color Corporation’s dividend payout ratio is presently 5.76%.
In other Multi-Color Corporation news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $86.39, for a total value of $2,159,750.00. Following the sale, the insider now owns 14,309 shares of the company’s stock, valued at approximately $1,236,154.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles B. Connolly sold 8,700 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $85.06, for a total value of $740,022.00. Following the completion of the sale, the director now directly owns 3,470 shares in the company, valued at approximately $295,158.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,700 shares of company stock worth $3,330,772. Company insiders own 19.40% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Multi-Color Corporation by 125,662.5% in the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock worth $114,113,000 after buying an additional 1,605,967 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of Multi-Color Corporation by 11.4% in the first quarter. Aberdeen Asset Management PLC UK now owns 781,972 shares of the business services provider’s stock worth $55,520,000 after buying an additional 79,974 shares in the last quarter. Tributary Capital Management LLC increased its stake in shares of Multi-Color Corporation by 24.4% in the first quarter. Tributary Capital Management LLC now owns 236,128 shares of the business services provider’s stock worth $16,765,000 after buying an additional 46,313 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Multi-Color Corporation by 35.1% in the second 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. Finally, AMI Asset Management Corp boosted its position in shares of Multi-Color Corporation by 20.0% in the second 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 during the last quarter. 73.64% of the stock is currently 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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