Matson Inc (MATX) Given Average Recommendation of “Buy” by Analysts

Matson Inc (NYSE:MATX) has been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $40.00.

A number of equities analysts have issued reports on the company. TheStreet upgraded Matson from a “c+” rating to a “b-” rating in a report on Thursday, May 24th. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday, July 4th. Finally, Stifel Nicolaus increased their price objective on Matson from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st.

In other news, President Ronald J. Forest sold 1,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $38.38, for a total transaction of $38,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark H. Fukunaga purchased 4,000 shares of Matson stock in a transaction dated Friday, September 7th. The shares were bought at an average price of $36.24 per share, with a total value of $144,960.00. Following the completion of the acquisition, the director now directly owns 10,432 shares of the company’s stock, valued at $378,055.68. The disclosure for this purchase can be found here. Insiders have sold 3,000 shares of company stock valued at $111,400 over the last 90 days. Corporate insiders own 2.48% of the company’s stock.

Several large investors have recently modified their holdings of MATX. Meeder Asset Management Inc. increased its holdings in shares of Matson by 167.7% during the second quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock valued at $125,000 after acquiring an additional 2,042 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Matson during the first quarter valued at $135,000. CIBC Asset Management Inc purchased a new stake in shares of Matson during the second quarter valued at $209,000. Fruth Investment Management purchased a new stake in shares of Matson during the second quarter valued at $222,000. Finally, UBS Group AG boosted its position in shares of Matson by 1,157.3% during the first quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock valued at $225,000 after buying an additional 7,256 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.

Shares of MATX stock opened at $37.64 on Friday. Matson has a 52 week low of $25.67 and a 52 week high of $40.32. The firm has a market capitalization of $1.56 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.33. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28.

Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, July 31st. The shipping company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.10. Matson had a return on equity of 14.40% and a net margin of 11.64%. The company had revenue of $557.10 million during the quarter, compared to analyst estimates of $526.28 million. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. sell-side analysts anticipate that Matson will post 2.36 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Thursday, August 2nd were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, August 1st. This is an increase from Matson’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Matson’s dividend payout ratio (DPR) is presently 47.19%.

Matson Company Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Analyst Recommendations for Matson (NYSE:MATX)

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