GridView DataFormatString, background color according to numeric values

Hi, I have a GridView column that I have to format the background color of each cell according to the numeric value. I thought about using the DataFormatingString. If the value is higher than 400 the color is red, between 200 and 400 the color is orange, lower than 200 the color is yellow, under 0 the color is green. Is it possible?

This is the GridView code:

<asp:TemplateField HeaderText="Retard" SortExpression="Retard"><ItemTemplate><asp:Label ID="Label1" runat="server" Text='<%# Bind("Retard") %>'></asp:Label></ItemTemplate></asp:TemplateField>