Shares of Matson Inc. (NYSE:MATX) have received a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have given a strong buy rating to the company. Matson’s rating score has declined by 11.3% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a one year consensus price objective of $49.00 for the company and are forecasting that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also given Matson an industry rank of 49 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised shares of Matson from a “sell” rating to a “hold” rating in a research report on Friday, July 8th.
Matson (NYSE:MATX) traded up 0.55% during mid-day trading on Monday, hitting $40.28. The company had a trading volume of 36,669 shares. The stock has a 50 day moving average price of $37.93 and a 200-day moving average price of $36.08. Matson has a 1-year low of $30.54 and a 1-year high of $53.18. The stock has a market capitalization of $1.73 billion, a PE ratio of 16.91 and a beta of 1.27.
Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The company had revenue of $467.70 million for the quarter, compared to analyst estimates of $487.35 million. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that Matson will post $2.03 earnings per share for the current year.
In other Matson news, insider Vic S. Angoco, Jr. sold 12,162 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $40.20, for a total value of $488,912.40. Following the transaction, the insider now directly owns 48,722 shares in the company, valued at approximately $1,958,624.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Blake Baird sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total transaction of $35,960.00. Following the completion of the transaction, the director now owns 18,745 shares in the company, valued at $674,070.20. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Matson by 3,374.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,474 shares of the company’s stock worth $112,000 after buying an additional 3,374 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Matson during the second quarter worth approximately $127,000. Acrospire Investment Management LLC bought a new position in shares of Matson during the first quarter worth approximately $137,000. PineBridge Investments L.P. increased its position in shares of Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock worth $177,000 after buying an additional 176 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in shares of Matson during the second quarter worth approximately $273,000. Institutional investors and hedge funds own 81.90% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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