Matson (NYSE:MATX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Matson from “hold” to “buy,” while broader analyst sentiment stands at “Moderate Buy,” with an average price target of $232.33.
• Matson reported strong quarterly results, earning $4.27 per share versus the $3.79 consensus estimate and generating $969.4 million in revenue, up 16.7% year over year.
• MATX shares opened at $207.84, near their 52-week high of $230.74; institutional investors own 84.76% of the company, while insiders sold 15,733 shares worth about $2.86 million during the last quarter.

Matson (NYSE:MATX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

MATX has been the subject of a number of other research reports. Weiss Ratings upgraded Matson from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday. Zacks Research upgraded shares of Matson to a "hold" rating in a research note on Wednesday, April 29th. Stephens boosted their price target on Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $232.33.

Matson Stock Performance

Shares of MATX stock opened at $207.84 on Friday. The stock's 50-day moving average is $201.72 and its two-hundred day moving average is $179.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.89. Matson has a 1 year low of $86.97 and a 1 year high of $230.74. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 13.89 and a beta of 1.27.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.48. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%.The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.92 EPS. Analysts predict that Matson will post 16.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Kuuhaku T. Park sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $450,475.00. Following the completion of the transaction, the senior vice president directly owned 10,984 shares of the company's stock, valued at approximately $1,979,206.96. This represents a 18.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Christopher A. Scott sold 1,520 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $181.05, for a total value of $275,196.00. Following the completion of the sale, the senior vice president directly owned 9,708 shares of the company's stock, valued at $1,757,633.40. This represents a 13.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,733 shares of company stock valued at $2,863,990. Corporate insiders own 2.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Danske Bank A S acquired a new position in shares of Matson during the 4th quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of Matson in the 2nd quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson in the 3rd quarter worth approximately $30,000. SouthState Bank Corp purchased a new position in Matson in the 4th quarter valued at approximately $31,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Company Profile

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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