Multi-Color Corporation (LABL) was Reiterated by Singular Research to “BUY – Long-Term” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $67 . Singular Research advised their investors in a research report released on Aug 17, 2016.
Many Wall Street Analysts have commented on Multi-Color Corporation. Company shares were Downgraded by Singular Research on Jun 21, 2016 to ” BUY – Long-Term”, Firm has raised the Price Target to $ 67 from a previous price target of $60 .
On the company’s financial health, Multi-Color Corporation reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.90. The company had revenue of $236.49 million for the quarter, compared to analysts expectations of $234.99 million. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Multi-Color Corporation closed down -0.29 points or -0.44% at $65.08 with 1,02,513 shares getting traded on Monday. Post opening the session at $65.1, the shares hit an intraday low of $64.97 and an intraday high of $66.79 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Aug 15, 2016, Nigel A Vinecombe (Executive Chairman) sold 25,000 shares at $66.34 per share price. According to the SEC, on Aug 12, 2016, David G Buse (Chief Operating Officer – W&S) sold 4,000 shares at $68.03 per share price. On Aug 12, 2016, Sharon E. Birkett (Chief Financial Officer) sold 5,000 shares at $68.40 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.