Multi-Color (LABL) Lowered to Sell at BidaskClub
BidaskClub cut shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a report issued on Friday morning.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Multi-Color from a buy rating to a sell rating in a research note on Wednesday, August 22nd. ValuEngine downgraded Multi-Color from a sell rating to a strong sell rating in a research note on Friday, August 17th. Finally, KeyCorp downgraded Multi-Color from a sector weight rating to an underweight rating and set a $57.00 price target for the company. in a research note on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $72.00.
Shares of Multi-Color stock traded down $1.23 during trading hours on Friday, reaching $55.75. 78,649 shares of the stock traded hands, compared to its average volume of 109,715. The company has a market cap of $1.28 billion, a P/E ratio of 14.83 and a beta of 0.67. Multi-Color has a one year low of $55.11 and a one year high of $89.70. The company has a quick ratio of 1.49, a current ratio of 1.97 and a debt-to-equity ratio of 2.21.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $60.88, for a total transaction of $1,522,000.00. Following the completion of the transaction, the insider now directly owns 62,190 shares in the company, valued at approximately $3,786,127.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 32.20% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in Multi-Color by 9,037.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 272,302 shares of the business services provider’s stock worth $182,000 after purchasing an additional 269,322 shares during the period. Crossmark Global Holdings Inc. bought a new position in Multi-Color in the 2nd quarter worth approximately $206,000. Laurion Capital Management LP bought a new position in Multi-Color in the 2nd quarter worth approximately $207,000. Piedmont Investment Advisors LLC bought a new position in Multi-Color in the 2nd quarter worth approximately $210,000. Finally, Xact Kapitalforvaltning AB bought a new position in Multi-Color in the 1st quarter worth approximately $216,000. Institutional investors own 70.38% of the company’s stock.
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
Recommended Story: Stock Split
Receive News & Ratings for Multi-Color Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color and related companies with MarketBeat.com's FREE daily email newsletter.