Wall Street Zen Upgrades Matthews International (NASDAQ:MATW) to Buy

Key Points

• Wall Street Zen upgraded Matthews International (NASDAQ:MATW) from a "hold" to a "buy" rating, though MarketBeat's consensus rating remains "Hold" based on recent analyst coverage.
• Recent quarter beat expectations: Matthews reported EPS of $0.37 vs. $0.17 estimated and revenue of $258.6M vs. $253.7M, while the company carries a market cap of about $890.6M and a P/E of 40.3 despite a low net margin (0.8%) and ROE of 5.88%.
• Institutions and hedge funds own a large majority of the stock (about 83.08%), with several funds recently increasing or initiating positions.

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

A number of other equities research analysts also recently commented on the company. Weiss Ratings raised Matthews International from a "sell (d)" rating to a "hold (c)" rating in a research note on Friday, February 6th. Zacks Research raised Matthews International from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Matthews International presently has a consensus rating of "Hold".

Matthews International Stock Up 0.2%

NASDAQ MATW opened at $28.61 on Friday. Matthews International has a 12 month low of $18.61 and a 12 month high of $30.93. The company has a market capitalization of $890.63 million, a P/E ratio of 40.30 and a beta of 1.12. The company's 50 day simple moving average is $26.21 and its 200 day simple moving average is $25.75. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.51 and a quick ratio of 0.91.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.20. The firm had revenue of $258.62 million during the quarter, compared to analysts' expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. Equities research analysts expect that Matthews International will post 0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE raised its position in Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company's stock valued at $50,000 after buying an additional 649 shares during the period. Potomac Capital Management Inc. acquired a new stake in Matthews International during the 4th quarter worth about $59,000. Wealth Enhancement Advisory Services LLC purchased a new position in Matthews International during the 3rd quarter valued at about $59,000. Tripletail Wealth Management LLC grew its stake in Matthews International by 206.5% during the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company's stock valued at $73,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company's stock valued at $69,000 after purchasing an additional 1,880 shares during the period. Hedge funds and other institutional investors own 83.08% of the company's stock.

About Matthews International

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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