Matson (NYSE:MATX) Stock Rating Upgraded by Wolfe Research
Wolfe Research upgraded Matson (NYSE:MATX) from a "peer perform" to an "outperform" rating, setting a target price of $142.00, indicating a potential upside of 25.14%. Other analysts have mixed ratings, with two Buy and four Hold ratings. Matson's stock rose 5.2% to $113.48, with a market cap of $3.61 billion. The company reported $4.24 EPS, exceeding estimates, but revenue declined 8.5% year-over-year. Institutional investors hold 84.76% of the stock, reflecting strong interest in the shipping company.
Matson (NYSE:MATX - Get Free Report) was upgraded by research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a $142.00 price objective on the shipping company's stock. Wolfe Research's target price suggests a potential upside of 25.14% from the stock's previous close.
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Several other equities analysts have also recently weighed in on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Matson in a report on Wednesday. Jefferies Financial Group restated a "hold" rating and set a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. Zacks Research upgraded Matson from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Stephens upped their price objective on Matson from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Matson has a consensus rating of "Hold" and an average target price of $141.75.
Read Our Latest Report on MATX
Matson Stock Up 5.2%
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Shares of MATX traded up $5.58 during mid-day trading on Friday, hitting $113.48. 187,320 shares of the company's stock were exchanged, compared to its average volume of 393,020. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. Matson has a 52 week low of $86.97 and a 52 week high of $169.12. The company has a market cap of $3.61 billion, a PE ratio of 7.67 and a beta of 1.32. The company has a 50-day simple moving average of $100.11 and a 200 day simple moving average of $106.01.
Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.25 by $0.99. The business had revenue of $880.10 million during the quarter, compared to analysts' expectations of $837.72 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm's revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.89 earnings per share. On average, research analysts forecast that Matson will post 13.27 earnings per share for the current fiscal year.
Institutional Trading of Matson
Several institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company's stock worth $28,000 after buying an additional 102 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Matson during the second quarter worth $28,000. Brooklyn Investment Group acquired a new position in shares of Matson during the first quarter worth $34,000. Finally, State of Wyoming lifted its stake in shares of Matson by 495.3% in the 1st quarter. State of Wyoming now owns 381 shares of the shipping company's stock valued at $49,000 after acquiring an additional 317 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.
Matson Company Profile
(Get Free Report)Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.
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