Multi-Color (NASDAQ:LABL) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Multi-Color (NASDAQ:LABL) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 9th.

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. “

Several other research analysts also recently commented on the stock. Robert W. Baird reaffirmed a hold rating and issued a $80.00 target price on shares of Multi-Color in a research note on Friday, November 10th. BidaskClub raised shares of Multi-Color from a strong sell rating to a sell rating in a research report on Friday, December 22nd. Hilliard Lyons raised shares of Multi-Color from a neutral rating to a buy rating in a research report on Monday, January 8th. Finally, BMO Capital Markets reissued a hold rating and set a $88.00 price objective on shares of Multi-Color in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $81.25.

Shares of Multi-Color (NASDAQ:LABL) traded up $2.40 during midday trading on Tuesday, hitting $84.05. 887,633 shares of the company traded hands, compared to its average volume of 54,199. The company has a current ratio of 1.96, a quick ratio of 1.48 and a debt-to-equity ratio of 1.13. Multi-Color has a 12 month low of $63.05 and a 12 month high of $89.70. The stock has a market capitalization of $1,668.97, a P/E ratio of 24.79 and a beta of 0.73.

Multi-Color (NASDAQ:LABL) last issued its earnings results on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.05). Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. The firm had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. During the same period in the previous year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. equities analysts predict that Multi-Color will post 3.84 EPS for the current year.

In other Multi-Color news, Director Robert R. Buck sold 9,530 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total transaction of $686,731.80. Following the transaction, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Julian Henry bought 1,000 shares of Multi-Color stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $71.03 per share, for a total transaction of $71,030.00. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in LABL. Schwab Charles Investment Management Inc. grew its position in shares of Multi-Color by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 58,364 shares of the business services provider’s stock worth $4,763,000 after buying an additional 2,932 shares during the period. Rhumbline Advisers grew its position in shares of Multi-Color by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 25,798 shares of the business services provider’s stock worth $2,105,000 after buying an additional 217 shares during the period. Legal & General Group Plc grew its position in shares of Multi-Color by 9.6% in the 2nd quarter. Legal & General Group Plc now owns 24,176 shares of the business services provider’s stock worth $1,974,000 after buying an additional 2,113 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Multi-Color by 59.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,931 shares of the business services provider’s stock worth $321,000 after buying an additional 1,465 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Multi-Color by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,697 shares of the business services provider’s stock worth $220,000 after buying an additional 404 shares during the period. 63.50% of the stock is currently owned by hedge funds and other institutional investors.

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Multi-Color Company Profile

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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