Multi-Color Corporation (LABL) Given Average Rating of “Hold” by Analysts
Multi-Color Corporation (NASDAQ:LABL) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $74.25.
LABL has been the topic of several recent research reports. BidaskClub downgraded shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Multi-Color Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th.
In other Multi-Color Corporation news, Director Charles B. Connolly sold 8,700 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.06, for a total value of $740,022.00. Following the sale, the director now owns 3,470 shares of the company’s stock, valued at $295,158.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $86.39, for a total transaction of $2,159,750.00. Following the completion of the sale, the insider now directly owns 14,309 shares in the company, valued at approximately $1,236,154.51. The disclosure for this sale can be found here. Insiders sold 38,700 shares of company stock worth $3,330,772 in the last ninety days. Insiders own 19.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in LABL. Aberdeen Asset Management PLC UK increased its position 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 valued at $55,520,000 after buying an additional 79,974 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Multi-Color Corporation by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 7,450 shares of the business services provider’s stock valued at $529,000 after buying an additional 410 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Multi-Color Corporation by 100.6% in the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock valued at $163,000 after buying an additional 1,150 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Multi-Color Corporation by 10.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,466 shares of the business services provider’s stock valued at $175,000 after buying an additional 236 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Multi-Color Corporation by 19.3% in the first quarter. Sei Investments Co. now owns 13,053 shares of the business services provider’s stock valued at $926,000 after buying an additional 2,111 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Multi-Color Corporation (LABL) opened at 79.50 on Tuesday. The firm has a market cap of $1.35 billion, a P/E ratio of 22.21 and a beta of 0.83. Multi-Color Corporation has a 12-month low of $62.90 and a 12-month high of $88.25. The firm has a 50-day moving average of $81.86 and a 200-day moving average of $77.15.
Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, May 30th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.13. Multi-Color Corporation had a net margin of 6.61% and a return on equity of 16.99%. The company had revenue of $244 million for the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Multi-Color Corporation will post $3.93 earnings per share for the current fiscal year.
The firm also recently declared 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 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, August 11th. Multi-Color Corporation’s dividend payout ratio (DPR) is presently 5.59%.
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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