Weiss Ratings Reiterates "Hold (C+)" Rating for Matson (NYSE:MATX)

Key Points

• Weiss Ratings has restated a "Hold (C+)" rating for Matson, which currently has an average target price of $131.67.
• The company's latest quarterly earnings showed an EPS of $2.92, significantly beating estimates of $2.18, although revenue decreased by 2% year-over-year.
• Insider trading activity includes a senior vice president selling shares worth $114,777, reflecting a decrease in their position by 7.21%.

Matson (NYSE:MATX - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on MATX. Jefferies Financial Group restated a "hold" rating and issued a $115.00 price target on shares of Matson in a research report on Friday, August 1st. Zacks Research upgraded shares of Matson from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $131.67.

Matson Trading Up 1.1%

NYSE MATX opened at $97.35 on Wednesday. Matson has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 6.58 and a beta of 1.21. The company's fifty day moving average price is $104.36 and its two-hundred day moving average price is $108.58.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The firm had revenue of $830.50 million for the quarter, compared to the consensus estimate of $727.30 million. During the same period in the prior year, the firm posted $3.31 EPS. The firm's revenue was down 2.0% compared to the same quarter last year. As a group, research analysts predict that Matson will post 13.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president directly owned 13,441 shares in the company, valued at $1,477,703.54. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Matson

Several hedge funds have recently bought and sold shares of MATX. Hantz Financial Services Inc. lifted its position in Matson by 67.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company's stock valued at $28,000 after purchasing an additional 102 shares during the last quarter. Headlands Technologies LLC acquired a new position in Matson during the 2nd quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in Matson during the 1st quarter valued at about $34,000. State of Wyoming increased its stake in Matson by 495.3% during the 1st quarter. State of Wyoming now owns 381 shares of the shipping company's stock valued at $49,000 after buying an additional 317 shares during the period. Finally, IFP Advisors Inc increased its stake in Matson by 42.6% during the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company's stock valued at $49,000 after buying an additional 132 shares during the period. 84.76% of the stock is currently owned by institutional investors.

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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