Brokerages Set Matthews International Corp (MATW) Target Price at $76.50

Matthews International Corp (NASDAQ:MATW) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $76.50.

Several brokerages have recently issued reports on MATW. Buckingham Research began coverage on Matthews International in a research note on Tuesday, October 2nd. They issued a “buy” rating and a $61.00 price objective on the stock. Zacks Investment Research cut Matthews International from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. TheStreet cut Matthews International from a “b” rating to a “c+” rating in a research note on Monday, August 20th. ValuEngine cut Matthews International from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Finally, BidaskClub cut Matthews International from a “hold” rating to a “sell” rating in a research note on Friday, July 27th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Toth Financial Advisory Corp raised its stake in shares of Matthews International by 797.6% in the second quarter. Toth Financial Advisory Corp now owns 2,962 shares of the company’s stock valued at $174,000 after acquiring an additional 2,632 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Matthews International in the second quarter valued at $211,000. Emerald Advisers Inc. PA acquired a new stake in Matthews International in the second quarter valued at $239,000. FDx Advisors Inc. acquired a new stake in Matthews International in the second quarter valued at $257,000. Finally, Manning & Napier Group LLC acquired a new stake in Matthews International in the third quarter valued at $306,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

NASDAQ:MATW traded down $0.05 during trading hours on Monday, reaching $44.44. 595 shares of the stock were exchanged, compared to its average volume of 134,246. The company has a quick ratio of 1.45, a current ratio of 2.05 and a debt-to-equity ratio of 1.20. Matthews International has a twelve month low of $39.76 and a twelve month high of $61.25. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.41 and a beta of 1.18.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.

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