Matson, Inc. (MATX) Given Average Recommendation of “Hold” by Brokerages

Shares of Matson, Inc. (NYSE:MATX) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $33.67.

Several analysts recently commented on the company. Wells Fargo upgraded Matson from an “underperform” rating to a “market perform” rating in a research report on Monday, January 29th. Zacks Investment Research upgraded Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Thursday, February 1st. Seaport Global Securities upgraded Matson from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, January 29th. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price target (up from $32.00) on shares of Matson in a research report on Monday, January 29th. Finally, TheStreet cut Matson from a “b” rating to a “c+” rating in a research report on Friday, March 2nd.

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Shares of MATX traded up $0.45 during trading hours on Friday, hitting $28.64. 281,906 shares of the stock were exchanged, compared to its average volume of 257,271. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 0.93. Matson has a 12-month low of $21.63 and a 12-month high of $40.32. The stock has a market capitalization of $1,221.50, a price-to-earnings ratio of 16.09, a PEG ratio of 2.70 and a beta of 1.42.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Matson had a return on equity of 14.40% and a net margin of 11.33%. The firm had revenue of $516.10 million for the quarter, compared to analysts’ expectations of $504.61 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. analysts predict that Matson will post 2.12 earnings per share for the current year.

In other Matson news, CEO Matthew J. Cox sold 17,715 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $30.27, for a total value of $536,233.05. Following the completion of the sale, the chief executive officer now directly owns 275,617 shares in the company, valued at approximately $8,342,926.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey N. Watanabe sold 3,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $29.37, for a total value of $102,795.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,215 shares of company stock valued at $934,628. 2.48% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of MATX. Nationwide Fund Advisors grew its holdings in Matson by 37.4% in the 3rd quarter. Nationwide Fund Advisors now owns 41,325 shares of the shipping company’s stock valued at $1,165,000 after buying an additional 11,253 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Matson by 37.1% during the 3rd quarter. Aperio Group LLC now owns 11,289 shares of the shipping company’s stock worth $318,000 after purchasing an additional 3,054 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Matson during the 3rd quarter worth $234,000. Victory Capital Management Inc. grew its holdings in shares of Matson by 23.7% during the 3rd quarter. Victory Capital Management Inc. now owns 16,216 shares of the shipping company’s stock worth $457,000 after purchasing an additional 3,109 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Matson by 7.3% during the 3rd quarter. Prudential Financial Inc. now owns 272,205 shares of the shipping company’s stock worth $7,670,000 after purchasing an additional 18,620 shares during the period. Institutional investors own 84.09% 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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