Matson’s (MATX) Buy Rating Reaffirmed at Stifel Nicolaus

Matson (NYSE:MATX)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a research note issued to investors on Monday. They presently have a $38.00 target price on the shipping company’s stock. Stifel Nicolaus’ price target points to a potential upside of 21.79% from the stock’s current price.

A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, November 7th. BidaskClub upgraded Matson from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.50.

Shares of Matson (NYSE:MATX) opened at $31.20 on Monday. Matson has a twelve month low of $21.63 and a twelve month high of $37.03. The firm has a market capitalization of $1,324.37, a price-to-earnings ratio of 16.08, a P/E/G ratio of 3.27 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.56.

Matson (NYSE:MATX) last released its quarterly earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. Matson had a return on equity of 17.49% and a net margin of 4.12%. The company had revenue of $543.90 million for the quarter, compared to analyst estimates of $531.61 million. During the same quarter in the prior year, the firm posted $0.59 EPS. Matson’s quarterly revenue was up 8.7% compared to the same quarter last year. equities analysts forecast that Matson will post 1.8 earnings per share for the current fiscal year.

In other news, President Ronald J. Forest sold 16,491 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $29.28, for a total value of $482,856.48. Following the completion of the transaction, the president now directly owns 94,977 shares in the company, valued at $2,780,926.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of MATX. Schwab Charles Investment Management Inc. increased its position in shares of Matson by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 268,290 shares of the shipping company’s stock valued at $8,060,000 after buying an additional 24,415 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of Matson by 89.2% in the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock valued at $108,000 after buying an additional 1,695 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Matson by 0.8% in the second quarter. Teachers Advisors LLC now owns 75,128 shares of the shipping company’s stock valued at $2,257,000 after buying an additional 609 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Matson by 8.6% in the second quarter. TIAA CREF Investment Management LLC now owns 232,164 shares of the shipping company’s stock valued at $6,974,000 after buying an additional 18,397 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Matson by 5.6% in the second quarter. Thrivent Financial For Lutherans now owns 25,850 shares of the shipping company’s stock valued at $777,000 after buying an additional 1,380 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.

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About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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