Multi-Color Corporation (NASDAQ:LABL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $96.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.01% from the company’s previous close.
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 analysts also recently issued reports about the stock. BMO Capital Markets reissued a “hold” rating and issued a $88.00 price target on shares of Multi-Color Corporation in a report on Monday, September 25th. Robert W. Baird reissued a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. KeyCorp reissued a “sell” rating and issued a $67.00 price target on shares of Multi-Color Corporation in a report on Friday, August 25th. Finally, BidaskClub downgraded shares of Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $84.00.
Multi-Color Corporation (NASDAQ:LABL) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. The firm had revenue of $242.40 million for the quarter, compared to the consensus estimate of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS.
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In related news, insider Nigel A. Vinecombe sold 14,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $82.09, for a total value of $1,206,640.91. Following the transaction, the insider now directly owns 54,309 shares of the company’s stock, valued at approximately $4,458,225.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 63,846 shares of company stock worth $5,194,386 over the last three months. 19.40% of the stock is owned by insiders.
Several large investors have recently modified their holdings of LABL. Acrospire Investment Management LLC purchased a new position in shares of Multi-Color Corporation in the 2nd quarter worth about $105,000. US Bancorp DE boosted its holdings in shares of Multi-Color Corporation by 88.7% in the 1st quarter. US Bancorp DE now owns 1,838 shares of the business services provider’s stock worth $130,000 after buying an additional 864 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in shares of Multi-Color Corporation by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after buying an additional 18 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Multi-Color Corporation by 100.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock worth $163,000 after buying an additional 1,150 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Multi-Color Corporation by 10.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,466 shares of the business services provider’s stock worth $175,000 after buying an additional 236 shares during the last quarter. 73.35% of the stock is currently owned by institutional investors.
Multi-Color Corporation 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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