Matthews International (NASDAQ:MATW) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Matthews International from “strong sell” to “hold,” but the broader analyst consensus remains “Reduce,” with an average price target of $24.00.
• Matthews International opened at $19.58, near its one-year low of $18.54, after reporting quarterly EPS of $0.06 versus expectations of $0.41 and revenue of $246.02 million versus estimates of $264.54 million.
• Company insiders purchased 8,900 shares worth approximately $197,914 over the past 90 days, while institutional investors own 83.08% of the stock.

Matthews International (NASDAQ:MATW - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday, Zacks reports.

MATW has been the topic of several other reports. Truist Financial began coverage on shares of Matthews International in a report on Friday, August 21st. They set a "hold" rating and a $24.00 price objective on the stock. Weiss Ratings lowered shares of Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded shares of Matthews International from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $24.00.

Matthews International Stock Performance

NASDAQ:MATW opened at $19.58 on Tuesday. The company has a market capitalization of $611.09 million, a P/E ratio of -21.05 and a beta of 1.05. The business has a fifty day simple moving average of $21.64 and a two-hundred day simple moving average of $24.94. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. Matthews International has a 1 year low of $18.54 and a 1 year high of $30.93.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.35). The firm had revenue of $246.02 million for the quarter, compared to analysts' expectations of $264.54 million. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. On average, analysts expect that Matthews International will post 0.53 earnings per share for the current year.

Insider Transactions at Matthews International

In other Matthews International news, Director Aleta W. Richards purchased 3,000 shares of the company's stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $23.06 per share, for a total transaction of $69,180.00. Following the transaction, the director owned 12,535 shares in the company, valued at $289,057.10. The trade was a 31.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Nauman acquired 2,000 shares of the business's stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $22.97 per share, with a total value of $45,940.00. Following the acquisition, the director directly owned 7,081 shares of the company's stock, valued at $162,650.57. This represents a 39.36% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 8,900 shares of company stock worth $197,914 over the last 90 days. Corporate insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On Matthews International

A number of institutional investors and hedge funds have recently bought and sold shares of MATW. Dimensional Fund Advisors LP increased its stake in Matthews International by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company's stock valued at $41,677,000 after acquiring an additional 83,860 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Matthews International during the 2nd quarter valued at about $786,000. Hsbc Holdings PLC purchased a new position in shares of Matthews International during the 4th quarter valued at about $603,000. Sei Investments Co. lifted its position in Matthews International by 12.9% in the 1st quarter. Sei Investments Co. now owns 233,065 shares of the company's stock worth $6,018,000 after buying an additional 26,572 shares during the last quarter. Finally, Forty three Eighteen Advisors LLC bought a new stake in Matthews International in the 4th quarter worth approximately $1,583,000. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Company Profile

Matthews International Corporation NASDAQ: MATW is a global manufacturer and provider of products, technologies and services for the memorialization, industrial technology and brand experience markets. Founded in 1850 and headquartered in Pittsburgh, Pennsylvania, the company serves customers in North America, Europe, Asia and other international markets.

Through its Memorialization business, Matthews supplies burial and cremation products and services, including caskets, urns, memorials, cemetery products, architectural features and related technologies.

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