Multi-Color (LABL) PT Lowered to $53.00

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Multi-Color (NASDAQ:LABL) had its price target decreased by BMO Capital Markets to $53.00 in a research note published on Wednesday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

LABL has been the subject of several other research reports. Zacks Investment Research raised shares of Multi-Color from a sell rating to a hold rating in a research report on Friday, September 7th. KeyCorp reissued a hold rating on shares of Multi-Color in a research report on Tuesday, August 7th. BidaskClub raised shares of Multi-Color from a strong sell rating to a sell rating in a research report on Friday, November 2nd. Finally, ValuEngine downgraded shares of Multi-Color from a sell rating to a strong sell rating in a research report on Friday, July 20th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $67.60.

Shares of LABL stock traded down $1.28 during trading hours on Wednesday, hitting $45.50. 189,863 shares of the company were exchanged, compared to its average volume of 93,605. The company has a market cap of $972.98 million, a price-to-earnings ratio of 12.10 and a beta of 0.84. Multi-Color has a fifty-two week low of $44.87 and a fifty-two week high of $89.70. The company has a quick ratio of 1.49, a current ratio of 1.84 and a debt-to-equity ratio of 2.21.

Multi-Color (NASDAQ:LABL) last announced its quarterly earnings data on Tuesday, November 6th. The business services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. Multi-Color had a net margin of 4.99% and a return on equity of 11.35%. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $453.46 million. During the same quarter last year, the firm posted $1.06 EPS. The company’s quarterly revenue was up 69.9% on a year-over-year basis. Analysts anticipate that Multi-Color will post 4.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, November 14th. Multi-Color’s payout ratio is currently 5.32%.

In related news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $60.88, for a total value of $1,522,000.00. Following the completion of the sale, the insider now owns 62,190 shares of the company’s stock, valued at approximately $3,786,127.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 32.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. FMR LLC lifted its stake in Multi-Color by 1.7% during the 3rd quarter. FMR LLC now owns 2,045,320 shares of the business services provider’s stock valued at $127,322,000 after acquiring an additional 33,538 shares in the last quarter. BlackRock Inc. lifted its stake in Multi-Color by 4.3% during the 3rd quarter. BlackRock Inc. now owns 2,018,673 shares of the business services provider’s stock valued at $125,662,000 after acquiring an additional 83,135 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Multi-Color by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 182,664 shares of the business services provider’s stock valued at $11,371,000 after acquiring an additional 7,273 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Multi-Color during the 3rd quarter valued at $207,000. Finally, American Century Companies Inc. lifted its stake in Multi-Color by 37.1% during the 3rd quarter. American Century Companies Inc. now owns 127,244 shares of the business services provider’s stock valued at $7,921,000 after acquiring an additional 34,435 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

About Multi-Color

Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.

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Analyst Recommendations for Multi-Color (NASDAQ:LABL)

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