Matthews International (NASDAQ:MATW) Cut to Hold at Wall Street Zen

Key Points

• Matthews International was downgraded by Wall Street Zen from buy to hold, adding to a generally cautious analyst outlook.
• The company recently reported better-than-expected quarterly earnings, posting $0.37 EPS versus $0.17 expected and revenue of $258.62 million versus $253.65 million forecast.
• Shares opened at $28.14, near their 52-week high of $30.93, while institutional investors continue to hold a large stake in the stock at 83.08% ownership.

Matthews International (NASDAQ:MATW - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Several other analysts have also recently issued reports on MATW. Weiss Ratings cut Matthews International from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday. Zacks Research upgraded Matthews International from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce".

Matthews International Price Performance

MATW opened at $28.14 on Friday. The firm has a 50-day moving average of $26.31 and a 200 day moving average of $25.90. Matthews International has a fifty-two week low of $19.87 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The firm has a market cap of $877.97 million, a P/E ratio of 90.77 and a beta of 1.12.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.20. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. The business had revenue of $258.62 million during the quarter, compared to analysts' expectations of $253.65 million. On average, research analysts expect that Matthews International will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company's stock valued at $50,000 after purchasing an additional 649 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Matthews International in the third quarter worth $59,000. Potomac Capital Management Inc. bought a new position in Matthews International in the fourth quarter worth $59,000. Tower Research Capital LLC TRC raised its holdings in Matthews International by 187.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company's stock worth $69,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Tripletail Wealth Management LLC lifted its position in Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company's stock valued at $73,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Company Profile

Matthews International Corporation NASDAQ: MATW is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.

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