Multi-Color Corp. (LABL) Stock Price Up 3.3%
Multi-Color Corp. (NASDAQ:LABL) shares rose 3.3% on Friday . The stock traded as high as $69.06 and last traded at $69.06, with a volume of 65,168 shares. The stock had previously closed at $66.86.
LABL has been the topic of several recent analyst reports. Zacks Investment Research upgraded Multi-Color Corp. from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, June 1st. Singular Research lifted their target price on Multi-Color Corp. from $67.00 to $70.00 and gave the stock 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. presently has an average rating of “Buy” and a consensus price target of $67.00.
The stock has a market cap of $1.15 billion and a P/E ratio of 23.11. The company’s 50 day moving average price is $65.43 and its 200 day moving average price is $58.88.
Multi-Color Corp. (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. During the same quarter in the previous year, the company posted $0.91 earnings per share. The firm earned $236.50 million during the quarter, compared to the consensus estimate of $233.04 million. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Multi-Color Corp. will post $3.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.05 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $65.68, for a total value of $1,642,000.00. Following the completion of the sale, the insider now directly owns 13,145 shares in the company, valued at $863,363.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David G. Buse sold 4,000 shares of the stock in a transaction 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 $1,011,136. 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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