BidaskClub Upgrades Multi-Color (LABL) to “Sell”

Multi-Color (NASDAQ:LABL) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.

Several other brokerages also recently issued reports on LABL. ValuEngine raised shares of Multi-Color from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Multi-Color from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Wednesday, August 1st. Finally, KeyCorp restated a “hold” rating on shares of Multi-Color in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.00.

LABL stock traded up $0.09 during trading on Friday, hitting $56.04. 85,651 shares of the company’s stock traded hands, compared to its average volume of 90,272. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.97 and a quick ratio of 1.49. Multi-Color has a 52 week low of $50.52 and a 52 week high of $89.70. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.19 and a beta of 0.84.

Multi-Color (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Multi-Color had a net margin of 5.02% and a return on equity of 11.70%. The company had revenue of $456.13 million during the quarter, compared to the consensus estimate of $442.85 million. As a group, analysts expect that Multi-Color will post 4.31 EPS for the current fiscal year.

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

Several large investors have recently bought and sold shares of LABL. Advisors Asset Management Inc. increased its position in shares of Multi-Color by 9,037.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 272,302 shares of the business services provider’s stock worth $182,000 after purchasing an additional 269,322 shares during the last quarter. FMR LLC boosted its stake in Multi-Color by 13.6% in the 2nd quarter. FMR LLC now owns 2,011,782 shares of the business services provider’s stock valued at $130,062,000 after purchasing an additional 240,099 shares during the period. Dimensional Fund Advisors LP boosted its stake in Multi-Color by 25.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 933,600 shares of the business services provider’s stock valued at $60,358,000 after purchasing an additional 191,424 shares during the period. BlackRock Inc. boosted its stake in Multi-Color by 8.6% in the 2nd quarter. BlackRock Inc. now owns 1,935,538 shares of the business services provider’s stock valued at $125,133,000 after purchasing an additional 153,887 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Multi-Color by 84.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 316,841 shares of the business services provider’s stock valued at $19,723,000 after purchasing an additional 144,927 shares during the period. 70.42% of the stock is currently owned by hedge funds and other institutional investors.

Multi-Color Company Profile

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.

Read More: What is a put option?

Analyst Recommendations for Multi-Color (NASDAQ:LABL)

Receive News & Ratings for Multi-Color Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply