Multi-Color Corporation (LABL) was Downgraded by Singular Research to ” BUY – Long-Term” according to the research note released today. The brokerage firm has raised the Price Target to $ 67 from a previous price target of $60 . Earlier the firm had a rating of “Buy ” on the company shares. Singular Research advised their investors in a research report released on Jun 21, 2016.
On the company’s financial health, Multi-Color Corporation reported $0.70 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on May 27, 2016. Analyst had a consensus of $0.78. The company had revenue of $227.09 million for the quarter, compared to analysts expectations of $225.19 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
Multi-Color Corporation opened for trading at $60.52 and hit $62.59 on the upside on Monday, eventually ending the session at $61.2, with a gain of 1.80% or 1.08 points. The heightened volatility saw the trading volume jump to 1,43,263 shares. Company has a market cap of $1,029 M.
In a different news, on Jun 10, 2016, Floyd E Needham (Chief Operating Officer – CPG) sold 7,500 shares at $63.31 per share price. According to the SEC, on Jun 3, 2016, Nigel A Vinecombe (Executive Chairman) sold 25,000 shares at $63.20 per share price. On Nov 24, 2015, Thomas M Mohr (director) sold 3,000 shares at $62.70 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company also provides a range of print methods including flexographic lithographic rotogravure letterpress and digital plus in-house prepress services. The Company provides graphics and pre-press services for its customers at all of its manufacturing locations. These services include the conversion of customer digital files and artwork into proofs production of print layouts and printing plates and product mock ups and samples for market research.