Multi-Color Corporation’s (LABL) “Hold” Rating Reiterated at Robert W. Baird
Multi-Color Corporation (NASDAQ:LABL)‘s stock had its “hold” rating reissued by analysts at Robert W. Baird in a report issued on Thursday. They presently have a $85.00 target price on the business services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 1.31% from the company’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Monday, September 4th. BidaskClub cut Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. BMO Capital Markets reissued a “hold” rating and set a $88.00 price objective on shares of Multi-Color Corporation in a report on Monday, September 25th. Finally, KeyCorp reissued a “sell” rating and set a $67.00 price objective on shares of Multi-Color Corporation in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. Multi-Color Corporation currently has a consensus rating of “Hold” and a consensus target price of $84.00.
Shares of Multi-Color Corporation (NASDAQ:LABL) traded down 1.07% during trading on Thursday, hitting $83.00. 26,647 shares of the stock traded hands. The company has a market cap of $1.41 billion, a PE ratio of 23.92 and a beta of 0.80. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25. The company has a 50 day moving average of $81.34 and a 200-day moving average of $79.34.
Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.06. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $242.47 million. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. On average, equities analysts anticipate that Multi-Color Corporation will post $3.98 EPS for the current fiscal year.
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In other news, Chairman Nigel A. Vinecombe sold 10,765 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $82.08, for a total value of $883,591.20. Following the completion of the sale, the chairman now directly owns 54,309 shares of the company’s stock, valued at approximately $4,457,682.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nigel A. Vinecombe sold 10,301 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $82.06, for a total value of $845,300.06. Following the completion of the sale, the insider now directly owns 54,309 shares of the company’s stock, valued at $4,456,596.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,846 shares of company stock valued at $5,194,386. 19.40% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. increased its stake in Multi-Color Corporation by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after purchasing an additional 18 shares in the last quarter. Atria Investments LLC increased its stake in Multi-Color Corporation by 0.8% during the 2nd quarter. Atria Investments LLC now owns 2,968 shares of the business services provider’s stock worth $242,000 after purchasing an additional 24 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Multi-Color Corporation by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock worth $103,000 after purchasing an additional 40 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Multi-Color Corporation by 2.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,910 shares of the business services provider’s stock worth $192,000 after purchasing an additional 60 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in Multi-Color Corporation by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 9,654 shares of the business services provider’s stock worth $788,000 after purchasing an additional 84 shares in the last quarter. 73.35% of the stock is owned by 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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