Zacks: Matthews International Corporation (MATW) Given $92.00 Consensus Target Price by Brokerages
Matthews International Corporation (NASDAQ:MATW) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price objective of $92.00 for the company and are forecasting that the company will post $1.09 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Matthews International Corporation an industry rank of 67 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently commented on MATW shares. Zacks Investment Research raised Matthews International Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub cut Matthews International Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Finally, FBR & Co reissued an “outperform” rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th.
Matthews International Corporation (MATW) traded down $0.70 during midday trading on Friday, hitting $61.65. The stock had a trading volume of 91,031 shares, compared to its average volume of 75,751. The firm has a market cap of $1.98 billion, a PE ratio of 17.49 and a beta of 1.12. Matthews International Corporation has a one year low of $57.40 and a one year high of $77.85. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.13 and a quick ratio of 1.51.
Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in shares of Matthews International Corporation by 54.8% during the third quarter. BNP Paribas Arbitrage SA now owns 16,855 shares of the company’s stock worth $1,049,000 after purchasing an additional 5,966 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Matthews International Corporation during the third quarter worth $221,000. Prudential Financial Inc. grew its stake in shares of Matthews International Corporation by 2.2% during the third quarter. Prudential Financial Inc. now owns 55,668 shares of the company’s stock worth $3,465,000 after purchasing an additional 1,190 shares during the period. Stevens Capital Management LP grew its stake in Matthews International Corporation by 35.0% in the third quarter. Stevens Capital Management LP now owns 10,781 shares of the company’s stock valued at $671,000 after acquiring an additional 2,793 shares during the period. Finally, Channing Capital Management LLC grew its stake in Matthews International Corporation by 12.7% in the third quarter. Channing Capital Management LLC now owns 885,504 shares of the company’s stock valued at $55,123,000 after acquiring an additional 99,837 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.
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About Matthews International Corporation
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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