Robert W. Baird Lowers Multi-Color Corp. Price Target to $40.00 (LABL)
Equities researchers at Robert W. Baird dropped their target price on shares of Multi-Color Corp. (NASDAQ:LABL) from $42.00 to $40.00 in a research report issued on Wednesday, AnalystRatings.Net reports. Robert W. Baird’s price objective would indicate a potential upside of 20.92% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets cut their price target on shares of Multi-Color Corp. from $42.00 to $40.00 in a research note to investors on Wednesday.
Shares of Multi-Color Corp. (NASDAQ:LABL) traded down 3.96% during mid-day trading on Wednesday, hitting $31.77. 46,533 shares of the company’s stock traded hands. Multi-Color Corp. has a 1-year low of $23.12 and a 1-year high of $39.46. The stock has a 50-day moving average of $36.44 and a 200-day moving average of $34.86. The company has a market cap of $521.0 million and a price-to-earnings ratio of 17.41.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.37 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.56 by $0.19. The company had revenue of $169.40 million for the quarter, compared to the consensus estimate of $169.23 million. On average, analysts predict that Multi-Color Corp. will post $2.23 earnings per share for the current fiscal year.
Multi-Color Corporation (NASDAQ:LABL) 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.
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