Matson, Inc. (NYSE:MATX) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Matson a “Moderate Buy.” Five of six covering brokerages recommend buying the stock, while one rates it a hold; the average 12-month price target is $249.25.
• Matson reported quarterly EPS of $4.27, exceeding the $3.79 consensus estimate, while revenue rose 16.7% year over year to $969.4 million.
• Insiders sold 12,462 shares worth approximately $2.7 million over the past 90 days, while institutional investors own 84.76% of the company. Matson also declared a quarterly dividend of $0.38 per share, yielding about 0.7% annually.

Shares of Matson, Inc. (NYSE:MATX - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $249.25.

Several research analysts have recently commented on the stock. Weiss Ratings raised shares of Matson from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Matson from $270.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 13th. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Stephens increased their target price on shares of Matson from $240.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Finally, Zacks Research cut shares of Matson from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th.

Insiders Place Their Bets

In related news, EVP Vic S. Angoco, Jr. sold 2,293 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $222.76, for a total transaction of $510,788.68. Following the completion of the transaction, the executive vice president directly owned 12,507 shares of the company's stock, valued at $2,786,059.32. The trade was a 15.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher A. Scott sold 600 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $219.90, for a total value of $131,940.00. Following the transaction, the executive vice president directly owned 9,354 shares of the company's stock, valued at $2,056,944.60. The trade was a 6.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,462 shares of company stock valued at $2,695,832. 2.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently bought and sold shares of the stock. Allworth Financial LP acquired a new position in shares of Matson during the second quarter worth about $28,000. Global Retirement Partners LLC purchased a new stake in shares of Matson during the second quarter worth approximately $44,000. USA Financial Formulas acquired a new stake in Matson in the third quarter valued at approximately $50,000. Public Employees Retirement System of Ohio acquired a new stake in Matson in the second quarter valued at approximately $55,000. Finally, Meeder Asset Management Inc. acquired a new stake in Matson in the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Stock Performance

Shares of Matson stock opened at $227.96 on Friday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.24 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of $226.87 and a 200 day moving average of $204.35. Matson has a 12 month low of $92.64 and a 12 month high of $240.87.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.48. The company had revenue of $969.40 million for the quarter, compared to analyst estimates of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. As a group, sell-side analysts forecast that Matson will post 16.01 earnings per share for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Matson's dividend payout ratio is currently 10.16%.

Matson Company Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.

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