Multi-Color Corporation (NASDAQ:LABL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Multi-Color is one of the largest producers of printed labels for branded consumer products in the United States. Labels printed by the Company appear principally on mass-marketed products for which label appearance is a significant element of product marketing and merchandising. Multi-Color produces labels for a variety of consumer products including liquid detergents, fabric softeners, food products, liquid cleaners, anti-freeze and chewing gum. “

Separately, BidaskClub downgraded shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Multi-Color Corporation presently has an average rating of “Hold” and a consensus price target of $78.60.

Shares of Multi-Color Corporation (NASDAQ:LABL) opened at 79.60 on Wednesday. Multi-Color Corporation has a one year low of $63.05 and a one year high of $88.25. The company has a 50 day moving average of $81.43 and a 200-day moving average of $77.22. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 22.23 and a beta of 0.83.

Multi-Color Corporation (NASDAQ:LABL) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Multi-Color Corporation had a net margin of 6.61% and a return on equity of 16.99%. The firm had revenue of $242.40 million during the quarter, compared to the consensus estimate of $242.47 million. During the same quarter in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that Multi-Color Corporation will post $3.93 earnings per share for the current year.

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In other news, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $86.39, for a total transaction of $2,159,750.00. Following the completion of the sale, the insider now owns 14,309 shares in the company, valued at approximately $1,236,154.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sharon E. Birkett sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $86.20, for a total value of $431,000.00. Following the sale, the chief financial officer now owns 6,342 shares of the company’s stock, valued at approximately $546,680.40. The disclosure for this sale can be found here. Insiders have sold a total of 38,700 shares of company stock valued at $3,330,772 in the last quarter. Company insiders own 19.40% of the company’s stock.

Several hedge funds have recently modified their holdings of LABL. Teachers Advisors LLC boosted its stake in shares of Multi-Color Corporation by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 22,109 shares of the business services provider’s stock worth $1,716,000 after buying an additional 1,103 shares during the last quarter. First National Bank of Omaha boosted its stake in shares of Multi-Color Corporation by 18.2% in the first quarter. First National Bank of Omaha now owns 44,401 shares of the business services provider’s stock worth $3,152,000 after buying an additional 6,842 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Multi-Color Corporation by 29.2% in the first quarter. Capstone Asset Management Co. now owns 3,979 shares of the business services provider’s stock worth $283,000 after buying an additional 899 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Multi-Color Corporation by 4.2% in the first quarter. Atria Investments LLC now owns 2,944 shares of the business services provider’s stock worth $209,000 after buying an additional 119 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Multi-Color Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the business services provider’s stock worth $383,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

About Multi-Color Corporation

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 and Southeast Asia 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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