Multi-Color Corp. (LABL) Stock Price Up 2.3%
Shares of Multi-Color Corp. (NASDAQ:LABL) shot up 2.3% during trading on Thursday . The company traded as high as $67.25 and last traded at $66.63, with a volume of 103,593 shares changing hands. The stock had previously closed at $65.13.
A number of brokerages have recently weighed in on LABL. Hilliard Lyons reiterated a “long-term buy” rating and set a $73.00 price target (up previously from $67.00) on shares of Multi-Color Corp. in a report on Friday, April 29th. Zacks Investment Research downgraded Multi-Color Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Singular Research increased their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the company a “buy – long-term” rating in a 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 company’s stock. Multi-Color Corp. currently has an average rating of “Buy” and an average target price of $67.00.
The firm has a market capitalization of $1.13 billion and a P/E ratio of 22.59. The firm’s 50 day moving average price is $65.11 and its 200 day moving average price is $58.10.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. The company earned $236.50 million during the quarter, compared to analyst estimates of $233.04 million. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Multi-Color Corp. will post $3.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be paid a dividend of $0.05 per share. 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 news, COO Floyd E. Needham sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $63.31, for a total value of $474,825.00. Following the transaction, the chief operating officer now owns 3,452 shares in the company, valued at $218,546.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $65.68, for a total value of $1,642,000.00. Following the completion of the transaction, the insider now owns 13,145 shares in the company, valued at approximately $863,363.60. 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 Form 13F filing with the SEC. The fund 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.
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