Robert W. Baird restated their hold rating on shares of Multi-Color Corporation (NASDAQ:LABL) in a research note released on Friday morning. The brokerage currently has a $80.00 target price on the business services provider’s stock.
LABL has been the subject of several other research reports. Zacks Investment Research raised Multi-Color Corporation from a hold rating to a strong-buy rating and set a $96.00 price objective for the company in a report on Wednesday, October 11th. BMO Capital Markets reissued a hold rating and issued a $88.00 price objective on shares of Multi-Color Corporation in a report on Wednesday, October 25th. Finally, KeyCorp reissued a sell rating and issued a $67.00 price objective on shares of Multi-Color Corporation in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Multi-Color Corporation currently has a consensus rating of Hold and an average price target of $82.75.
Multi-Color Corporation (NASDAQ LABL) opened at $71.80 on Friday. Multi-Color Corporation has a 12-month low of $63.05 and a 12-month high of $88.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.48 and a current ratio of 1.96. The firm has a market capitalization of $1,459.46, a P/E ratio of 19.83 and a beta of 0.78.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.05). The company had revenue of $256.03 million during the quarter, compared to analyst estimates of $246.61 million. Multi-Color Corporation had a net margin of 6.10% and a return on equity of 15.52%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. sell-side analysts expect that Multi-Color Corporation will post 3.85 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Multi-Color Corporation’s payout ratio is 5.90%.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $80.23, for a total value of $2,005,750.00. Following the sale, the insider now directly owns 54,309 shares of the company’s stock, valued at $4,357,211.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Nigel A. Vinecombe sold 10,765 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were 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 in the company, valued at $4,457,682.72. The disclosure for this sale can be found here. Insiders sold 63,846 shares of company stock worth $5,194,386 in the last 90 days. 19.40% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in Multi-Color Corporation in the second quarter valued at about $105,000. SG Americas Securities LLC acquired a new stake in Multi-Color Corporation in the third quarter valued at about $129,000. Pinebridge Investments L.P. boosted its stake in Multi-Color Corporation by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock valued at $143,000 after buying an additional 18 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in Multi-Color Corporation in the third quarter valued at about $201,000. Finally, State of Alaska Department of Revenue boosted its stake in Multi-Color Corporation by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 2,613 shares of the business services provider’s stock valued at $213,000 after buying an additional 1,153 shares in the last quarter. 60.66% of the stock is currently owned by institutional investors and hedge funds.
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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