Matthews International (NASDAQ:MATW) was upgraded by BidaskClub from a "strong sell" rating to a "sell" rating in a report released on Tuesday, BidAskClub reports.
A number of other research firms have also issued reports on MATW. Zacks Investment Research upgraded shares of Matthews International from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Wednesday, August 5th. ValuEngine downgraded shares of Matthews International from a "sell" rating to a "strong sell" rating in a research report on Monday, August 3rd. Finally, B. Riley lowered their price objective on shares of Matthews International from $65.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th.
MATW stock opened at $23.36 on Tuesday. Matthews International has a 52-week low of $17.01 and a 52-week high of $40.36. The company's 50 day simple moving average is $19.60 and its 200-day simple moving average is $24.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.87 and a quick ratio of 1.27. The firm has a market capitalization of $706.27 million, a P/E ratio of -4.39 and a beta of 1.18.
Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.64 by $0.16. Matthews International had a negative net margin of 11.11% and a positive return on equity of 13.81%. The business had revenue of $359.42 million for the quarter, compared to analyst estimates of $361.97 million. Sell-side analysts predict that Matthews International will post 2.75 EPS for the current fiscal year.
In other news, insider Edward M. Brady, Jr. acquired 2,000 shares of Matthews International stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $19.00 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the insider now owns 8,920 shares of the company's stock, valued at $169,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Matthews International by 346.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,323 shares of the company's stock worth $178,000 after buying an additional 7,233 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Matthews International in the first quarter worth $213,000. First Quadrant L P CA acquired a new stake in shares of Matthews International in the second quarter worth $223,000. SG Americas Securities LLC raised its stake in Matthews International by 133.1% during the 1st quarter. SG Americas Securities LLC now owns 9,954 shares of the company's stock valued at $241,000 after purchasing an additional 5,683 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC acquired a new position in Matthews International during the 2nd quarter valued at $247,000. Institutional investors and hedge funds own 83.39% of the company's stock.
Matthews International Company Profile
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
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