Matson (NYSE:MATX - Get Free Report)'s stock had its "overweight" rating reiterated by Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $165.00 price target on the shipping company's stock. Stephens' target price suggests a potential upside of 19.72% from the company's current price.
Several other research firms also recently weighed in on MATX. Wolfe Research downgraded Matson from an "outperform" rating to a "peer perform" rating in a research note on Monday, November 18th. StockNews.com cut Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th.
View Our Latest Stock Report on MATX
Matson Stock Up 2.2 %
Shares of MATX traded up $2.98 on Thursday, reaching $137.82. The stock had a trading volume of 227,063 shares, compared to its average volume of 271,812. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson has a 12-month low of $100.50 and a 12-month high of $169.12. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 11.47 and a beta of 1.04. The company has a 50-day simple moving average of $148.81 and a 200-day simple moving average of $137.74.
Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company's revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 earnings per share. Sell-side analysts predict that Matson will post 13.19 EPS for the current year.
Insider Activity at Matson
In other news, SVP Leonard P. Isotoff sold 492 shares of Matson stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the sale, the senior vice president now directly owns 4,254 shares in the company, valued at $686,000.04. The trade was a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter T. Heilmann sold 5,404 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the sale, the executive vice president now owns 32,952 shares in the company, valued at $5,350,086.72. This represents a 14.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,646 shares of company stock valued at $1,578,768. 2.32% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Matson
Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC raised its position in Matson by 43.5% in the third quarter. Intech Investment Management LLC now owns 14,382 shares of the shipping company's stock worth $2,051,000 after acquiring an additional 4,361 shares during the period. Edgestream Partners L.P. raised its holdings in Matson by 98.1% in the 2nd quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company's stock worth $1,315,000 after purchasing an additional 4,973 shares during the period. Summit Global Investments lifted its position in Matson by 78.0% during the third quarter. Summit Global Investments now owns 10,425 shares of the shipping company's stock valued at $1,487,000 after purchasing an additional 4,567 shares in the last quarter. Quest Partners LLC lifted its position in Matson by 142.5% during the third quarter. Quest Partners LLC now owns 10,346 shares of the shipping company's stock valued at $1,476,000 after purchasing an additional 6,080 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Matson by 7.5% during the third quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company's stock valued at $1,437,000 after purchasing an additional 703 shares during the period. Institutional investors own 84.76% of the company's stock.
About Matson
(
Get Free Report)
Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.
Featured Stories
Before you consider Matson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Matson wasn't on the list.
While Matson currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.