Matthews International (NASDAQ:MATW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Matthews International has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a potential stabilization in its market outlook.
• The company reported $0.28 EPS for the last quarter, missing the consensus estimate of $0.33, while its revenue exceeded expectations at $349.40 million.
• Institutional investors have shown increased confidence in the company, with several, such as Ameriprise Financial and Boston Partners, boosting their positions in Matthews International recently.

Matthews International (NASDAQ:MATW - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Matthews International Price Performance

NASDAQ MATW traded up $0.88 on Friday, reaching $24.93. The company had a trading volume of 59,057 shares, compared to its average volume of 241,501. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $767.44 million, a PE ratio of -11.76 and a beta of 1.24. The firm's 50 day moving average price is $23.69 and its 200 day moving average price is $22.99. Matthews International has a 12 month low of $18.50 and a 12 month high of $32.24.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05). The company had revenue of $349.40 million during the quarter, compared to the consensus estimate of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. As a group, equities analysts predict that Matthews International will post 1.73 earnings per share for the current year.

Institutional Trading of Matthews International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its stake in shares of Matthews International by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 32,663 shares of the company's stock worth $726,000 after buying an additional 514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Matthews International by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company's stock worth $468,000 after buying an additional 593 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Matthews International by 55.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,687 shares of the company's stock worth $40,000 after buying an additional 599 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Matthews International by 2.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company's stock worth $569,000 after buying an additional 650 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Matthews International by 551.8% in the 4th quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock worth $25,000 after buying an additional 767 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.