Matthews International Corp. (NASDAQ:MATW) had its price objective increased by investment analysts at Macquarie from $57.00 to $64.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the stock. Macquarie’s price target indicates a potential upside of 6.29% from the stock’s current price.

Separately, Wunderlich lifted their price objective on shares of Matthews International Corp. from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, July 29th.

Shares of Matthews International Corp. (NASDAQ:MATW) traded up 1.46% on Thursday, hitting $61.09. 41,429 shares of the stock traded hands. The firm has a market cap of $1.96 billion, a P/E ratio of 33.75 and a beta of 1.02. Matthews International Corp. has a 52 week low of $45.00 and a 52 week high of $62.85. The stock has a 50-day moving average price of $60.85 and a 200 day moving average price of $55.32.

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Matthews International Corp. (NASDAQ:MATW) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Matthews International Corp. had a net margin of 4.07% and a return on equity of 14.87%. The business earned $382.06 million during the quarter, compared to analyst estimates of $385.34 million. During the same period in the previous year, the business earned $0.88 EPS. Matthews International Corp.’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Matthews International Corp. will post $3.30 EPS for the current fiscal year.

In related news, insider David A. Schawk sold 25,000 shares of Matthews International Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $60.52, for a total value of $1,513,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Schawk sold 15,000 shares of Matthews International Corp. stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $60.64, for a total transaction of $909,600.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

About Matthews International Corp.

Matthews International Corporation is a designer, manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products, Funeral Home Products, Cremation, Graphics Imaging, Marking and Fulfillment Systems, and Merchandising Solutions.

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