Multi-Color (LABL) Cut to “Hold” at Zacks Investment Research

Multi-Color (NASDAQ:LABL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

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. “

A number of other research analysts also recently commented on the company. BidaskClub raised Multi-Color from a “sell” rating to a “hold” rating in a research note on Friday. Hilliard Lyons raised Multi-Color from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $80.00 price target on shares of Multi-Color in a research note on Friday, November 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $88.00 price target on shares of Multi-Color in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $81.25.

Shares of Multi-Color (LABL) opened at $84.05 on Friday. The stock has a market cap of $1,668.97, a PE ratio of 24.79 and a beta of 0.73. Multi-Color has a 52-week low of $63.05 and a 52-week high of $89.70. 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 (NASDAQ:LABL) last announced its earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). The business had revenue of $256.03 million during the quarter, compared to the consensus estimate of $246.61 million. Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. sell-side analysts forecast that Multi-Color will post 3.84 EPS for the current year.

In related news, CEO Michael Julian Henry purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $71.03 per share, with a total value of $71,030.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Buck sold 9,530 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $72.06, for a total value of $686,731.80. Following the transaction, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The disclosure for this sale can be found here. 19.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its stake in Multi-Color by 3.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 66,699 shares of the business services provider’s stock worth $4,993,000 after acquiring an additional 1,991 shares in the last quarter. California Public Employees Retirement System raised its stake in Multi-Color by 7.1% during the third quarter. California Public Employees Retirement System now owns 38,120 shares of the business services provider’s stock worth $3,124,000 after acquiring an additional 2,520 shares in the last quarter. Zions Bancorporation acquired a new position in Multi-Color during the third quarter worth about $154,000. Magnetar Financial LLC acquired a new position in Multi-Color during the third quarter worth about $203,000. Finally, Dimensional Fund Advisors LP raised its stake in Multi-Color by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 660,588 shares of the business services provider’s stock worth $54,135,000 after acquiring an additional 13,868 shares in the last quarter. 63.50% of the stock is owned by hedge funds and other institutional investors.

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Multi-Color Company Profile

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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