Matthews International Corp. (MATW) Price Target Raised to $64.00

Matthews International Corp. (NASDAQ:MATW) had its price objective boosted by Macquarie from $57.00 to $64.00 in a research note published on Thursday morning. They currently have a neutral rating on the stock.

Separately, Wunderlich raised their price target on shares of Matthews International Corp. from $65.00 to $75.00 and gave the company a buy rating in a research note on Friday, July 29th.

Matthews International Corp. (NASDAQ:MATW) opened at 59.89 on Thursday. Matthews International Corp. has a 52-week low of $45.00 and a 52-week high of $62.85. The stock has a 50 day moving average of $60.94 and a 200-day moving average of $55.62. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 33.09 and a beta of 1.02.

Matthews International Corp. (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Matthews International Corp. had a net margin of 4.07% and a return on equity of 14.87%. The company had revenue of $382.06 million for the quarter, compared to analyst estimates of $385.34 million. During the same quarter last year, the business earned $0.88 earnings per share. Matthews International Corp.’s revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that Matthews International Corp. will post $3.30 EPS for the current year.

In other news, insider David A. Schawk sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $60.52, for a total value of $1,513,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Schawk sold 15,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $60.64, for a total transaction of $909,600.00. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

About Matthews International Corp.

Matthews International Corporation is a designer, manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products, Funeral Home Products, Cremation, Graphics Imaging, Marking and Fulfillment Systems, and Merchandising Solutions.

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