Multi-Color Corporation (LABL) Upgraded by Zacks Investment Research to Buy
Multi-Color Corporation (NASDAQ:LABL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $89.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.29% from the stock’s current price.
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. “
Other research analysts also recently issued research reports about the company. KeyCorp reissued a “sell” rating and issued a $67.00 price target on shares of Multi-Color Corporation in a report on Friday, August 25th. Robert W. Baird reissued a “hold” rating on shares of Multi-Color Corporation in a report on Friday. Finally, BidaskClub downgraded Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.
Shares of Multi-Color Corporation (NASDAQ LABL) traded up 1.13% during midday trading on Monday, hitting $80.70. The stock had a trading volume of 82,570 shares. Multi-Color Corporation has a one year low of $63.05 and a one year high of $88.25. The company has a market cap of $1.38 billion, a P/E ratio of 23.26 and a beta of 0.83. The stock has a 50 day moving average of $78.86 and a 200-day moving average of $77.30.
Multi-Color Corporation (NASDAQ:LABL) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $242.40 million during 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%. Multi-Color Corporation’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. Analysts forecast that Multi-Color Corporation will post $3.98 EPS for the current fiscal year.
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In other Multi-Color Corporation news, Director Charles B. Connolly sold 8,700 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $85.06, for a total transaction of $740,022.00. Following the sale, the director now owns 3,470 shares in the company, valued at $295,158.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LABL. Teachers Advisors LLC raised its stake in Multi-Color Corporation by 5.3% during the fourth quarter. Teachers Advisors LLC now owns 22,109 shares of the business services provider’s stock valued at $1,716,000 after buying an additional 1,103 shares in the last quarter. Capstone Asset Management Co. raised its stake in Multi-Color Corporation by 29.2% during the first quarter. Capstone Asset Management Co. now owns 3,979 shares of the business services provider’s stock valued at $283,000 after buying an additional 899 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Multi-Color Corporation by 1.9% during the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the business services provider’s stock valued at $383,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Multi-Color Corporation by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock valued at $103,000 after buying an additional 40 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Multi-Color Corporation by 3.1% during the first quarter. Great West Life Assurance Co. Can now owns 18,006 shares of the business services provider’s stock valued at $1,277,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 73.64% of the company’s stock.
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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