Multi-Color Corp. (LABL) Trading Up 3.3%
Multi-Color Corp. (NASDAQ:LABL) shares were up 3.3% during trading on Friday . The company traded as high as $69.06 and last traded at $69.06, with a volume of 65,168 shares changing hands. The stock had previously closed at $66.86.
A number of research analysts have commented on LABL shares. Zacks Investment Research raised Multi-Color Corp. from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, June 1st. Singular Research upped their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the company a “buy – long-term” rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Multi-Color Corp. presently has an average rating of “Buy” and an average target price of $67.00.
The firm has a 50-day moving average price of $65.35 and a 200-day moving average price of $58.82. The stock has a market cap of $1.15 billion and a PE ratio of 23.11.
Multi-Color Corp. (NASDAQ:LABL) last announced its quarterly earnings results 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. The company earned $236.50 million during the quarter, compared to analysts’ expectations of $233.04 million. During the same quarter last year, the firm posted $0.91 earnings per share. Multi-Color Corp.’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts expect that Multi-Color Corp. will post $3.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Thursday, August 11th.
In other news, COO David G. Buse sold 4,000 shares of Multi-Color Corp. stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $68.32, for a total value of $273,280.00. Following the completion of the transaction, the chief operating officer now directly owns 14,800 shares in the company, valued at $1,011,136. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Floyd E. Needham sold 7,500 shares of Multi-Color Corp. stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $63.31, for a total value of $474,825.00. Following the completion of the transaction, the chief operating officer now owns 3,452 shares of the company’s stock, valued at $218,546.12. The disclosure for this sale can be found here.
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.
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