Matson (NYSE:MATX) Upgraded at Zacks Research

Key Points

• Matson (__NYSE:MATX__) was upgraded by Zacks Research from a "strong sell" to a "hold" rating, indicating a potential positive shift in investor sentiment.
• The company's recent quarterly earnings report showed an earnings per share (EPS) of $2.92, exceeding analysts' estimates of $2.18, although revenue decreased by 2% year-over-year.
• Insider trading activity included a sale of 1,044 shares by SVP Christopher A. Scott, which reduced his ownership by 7.21%, while hedge funds and institutional investors collectively hold 84.76% of the company's stock.

Matson (NYSE:MATX - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Jefferies Financial Group reissued a "hold" rating and set a $115.00 target price on shares of Matson in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $131.67.

Matson Price Performance

Shares of NYSE:MATX traded up $1.09 during midday trading on Tuesday, hitting $104.85. The company had a trading volume of 279,780 shares, compared to its average volume of 319,408. Matson has a twelve month low of $91.75 and a twelve month high of $169.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 7.09 and a beta of 1.21. The business's 50-day simple moving average is $106.23 and its 200-day simple moving average is $110.74.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm had revenue of $830.50 million during the quarter, compared to analysts' expectations of $727.30 million. During the same quarter last year, the firm earned $3.31 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts predict that Matson will post 13.27 earnings per share for the current year.

Insider Transactions at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the sale, the senior vice president directly owned 13,441 shares of the company's stock, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Matson

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Matson in the second quarter valued at $28,000. Ameriflex Group Inc. acquired a new stake in shares of Matson in the fourth quarter valued at $36,000. Hantz Financial Services Inc. grew its stake in shares of Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company's stock valued at $28,000 after buying an additional 102 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Matson in the first quarter valued at $34,000. Finally, State of Wyoming grew its stake in shares of Matson by 495.3% in the first quarter. State of Wyoming now owns 381 shares of the shipping company's stock valued at $49,000 after buying an additional 317 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.