Multi-Color Corp. (LABL) Trading 2.3% Higher
Shares of Multi-Color Corp. (NASDAQ:LABL) traded up 2.3% during trading on Thursday . The stock traded as high as $67.25 and last traded at $66.63, with a volume of 103,593 shares traded. The stock had previously closed at $65.13.
Several analysts have recently commented on the stock. Hilliard Lyons reaffirmed a “long-term buy” rating and set a $73.00 price objective (up previously from $67.00) on shares of Multi-Color Corp. in a research report on Friday, April 29th. Zacks Investment Research downgraded shares of Multi-Color Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Singular Research raised their price objective on shares of Multi-Color Corp. from $67.00 to $70.00 and gave the stock a “buy – long-term” rating in a research report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $67.00.
The stock has a 50-day moving average price of $65.21 and a 200 day moving average price of $58.18. The stock has a market cap of $1.13 billion and a P/E ratio of 22.63.
Multi-Color Corp. (NASDAQ:LABL) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. During the same quarter in the previous year, the firm posted $0.91 EPS. The company earned $236.50 million during the quarter, compared to the consensus estimate of $233.04 million. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Multi-Color Corp. will post $3.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.20 annualized dividend and a yield of 0.30%.
In other Multi-Color Corp. news, CFO Sharon E. Birkett sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $68.40, for a total value of $342,000.00. Following the completion of the sale, the chief financial officer now owns 4,061 shares in the company, valued at $277,772.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David G. Buse sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $68.32, for a total value of $273,280.00. Following the completion of the sale, the chief operating officer now owns 14,800 shares of the company’s stock, valued at approximately $1,011,136. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Multi-Color Corp. stock. Wells Fargo & Company MN increased its stake in shares of Multi-Color Corp. (NASDAQ:LABL) by 37.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,159 shares of the company’s stock after buying an additional 66,627 shares during the period. Wells Fargo & Company MN owned about 1.47% of Multi-Color Corp. worth $14,723,000 as of its most recent SEC filing.
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 with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.