Stifel Nicolaus Lowers Matson (NYSE:MATX) Price Target to $130.00

Matson (NYSE:MATX - Get Free Report) had its target price dropped by analysts at Stifel Nicolaus from $160.00 to $130.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the shipping company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 36.03% from the stock's previous close.

A number of other research analysts also recently weighed in on MATX. Stephens cut their price target on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating and issued a $125.00 price target on shares of Matson in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Matson currently has a consensus rating of "Moderate Buy" and an average target price of $135.00.

Matson Stock Performance

MATX stock traded down $14.51 during mid-day trading on Tuesday, reaching $95.57. 593,578 shares of the stock traded hands, compared to its average volume of 312,186. Matson has a 52 week low of $92.90 and a 52 week high of $169.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.14 billion, a PE ratio of 7.95 and a beta of 1.30. The business has a 50-day moving average of $118.45 and a two-hundred day moving average of $135.40.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a net margin of 12.37% and a return on equity of 16.89%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Matson will post 13.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now directly owns 25,192 shares of the company's stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the completion of the sale, the senior vice president now owns 8,425 shares of the company's stock, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently bought and sold shares of MATX. Bessemer Group Inc. lifted its holdings in shares of Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Matson during the 4th quarter worth about $30,000. Ameriflex Group Inc. purchased a new position in Matson in the fourth quarter valued at $36,000. IFP Advisors Inc purchased a new position in shares of Matson during the 4th quarter valued at approximately $40,000. Finally, Covestor Ltd raised its holdings in shares of Matson by 16.3% during the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after acquiring an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

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.

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