Zacks Investment Research downgraded shares of Multi-Color Corporation (NASDAQ:LABL) from a hold rating to a sell rating in a research report released on Friday morning.
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 equities research analysts also recently issued reports about the stock. BMO Capital Markets reiterated a hold rating and issued a $88.00 price target on shares of Multi-Color Corporation in a research report on Wednesday, October 25th. Robert W. Baird reiterated a hold rating and issued a $85.00 price target on shares of Multi-Color Corporation in a research report on Thursday, October 12th. Finally, KeyCorp reiterated a sell rating and issued a $67.00 price target on shares of Multi-Color Corporation in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Multi-Color Corporation currently has a consensus rating of Hold and a consensus target price of $82.75.
Shares of Multi-Color Corporation (NASDAQ:LABL) opened at $71.80 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.96 and a quick ratio of 1.48. Multi-Color Corporation has a 1 year low of $63.05 and a 1 year high of $88.25. The firm has a market cap of $1,459.46, a P/E ratio of 19.83 and a beta of 0.78.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). Multi-Color Corporation had a net margin of 6.10% and a return on equity of 15.52%. The business had revenue of $256.03 million during the quarter, compared to analyst estimates of $246.61 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. analysts predict that Multi-Color Corporation will post 3.85 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.20 annualized dividend and a yield of 0.28%. Multi-Color Corporation’s dividend payout ratio is currently 5.90%.
In other Multi-Color Corporation news, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $80.23, for a total transaction of $2,005,750.00. Following the completion of the transaction, the insider now directly owns 54,309 shares in the company, valued at $4,357,211.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Nigel A. Vinecombe sold 3,081 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $82.15, for a total transaction of $253,104.15. Following the transaction, the chairman now owns 54,309 shares of the company’s stock, valued at $4,461,484.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,846 shares of company stock valued at $5,194,386. Company insiders own 19.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Acrospire Investment Management LLC acquired a new position in Multi-Color Corporation during the second quarter valued at approximately $105,000. SG Americas Securities LLC acquired a new position in Multi-Color Corporation during the third quarter valued at approximately $129,000. Pinebridge Investments L.P. raised its position in Multi-Color Corporation by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 18 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in Multi-Color Corporation during the third quarter valued at approximately $201,000. Finally, State of Alaska Department of Revenue raised its position in Multi-Color Corporation by 79.0% during the second quarter. State of Alaska Department of Revenue now owns 2,613 shares of the business services provider’s stock valued at $213,000 after purchasing an additional 1,153 shares in the last quarter. Institutional investors and hedge funds own 60.66% 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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