Matson Now Covered by Stifel Nicolaus (MATX)
Equities researchers at Stifel Nicolaus began coverage on shares of Matson (NASDAQ:MATX) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $32.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 27.95% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Matson (MATX) with a Buy rating with a $32 target price on the shares. We expect Matson to continue to be the leader in Hawaiian container shipping, and given 1) expectations for continued growth in Hawaiian container demand, 2) high barriers to entry, and 3) Matson’s strong financing position which should enable the company to capture market share, we believe the company should be in an excellent position to see long-term earnings growth. With the shares trading at 14.2x our 2015 earnings estimate of $1.80 per share versus the peer comps of 16.1x, we believe MATX shares are attractively valued at current levels.”
A number of other firms have also recently commented on MATX. Analysts at Oppenheimer raised their price target on shares of Matson from $28.00 to $31.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock. Analysts at Zacks downgraded shares of Matson from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, August 1st. They now have a $30.80 price target on the stock.
Shares of Matson (NASDAQ:MATX) traded up 2.96% during mid-day trading on Tuesday, hitting $25.75. The stock had a trading volume of 49,939 shares. Matson has a one year low of $20.01 and a one year high of $29.47. The stock has a 50-day moving average of $27.32 and a 200-day moving average of $26.01. The company has a market cap of $1.100 billion and a price-to-earnings ratio of 16.81.
Matson (NASDAQ:MATX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.03. The company had revenue of $416.60 million for the quarter, compared to the consensus estimate of $398.33 million. Analysts expect that Matson will post $1.50 EPS for the current fiscal year.
Matson Inc is an industrials company in the Marine industry.
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