Matson Inc. (NYSE:MATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $46.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.27% from the stock’s previous close.
According to Zacks, “Matson, Inc. operates as an ocean transportation and logistics company. It offers shipping services in Hawaii, Guam, and Micronesia islands and expedited service from China to southern California. The company’s logistics services consist of rail intermodal service, long haul and regional highway truckload services, less-than-truckload transportation, specialized hauling, flatbed, and project works, warehousing and distribution services, transloading, cross-dock services, and packaging services, and network analysis and freight management services. Matson, Inc., formerly known as Alexander & Baldwin Holdings, Inc., is headquartered in Honolulu, Hawaii. “
Separately, Stifel Nicolaus restated a “buy” rating and issued a $46.00 target price on shares of Matson in a research note on Monday.
Matson (NYSE:MATX) opened at 40.61 on Wednesday. The stock has a 50 day moving average price of $39.44 and a 200 day moving average price of $36.24. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 17.05 and a beta of 1.19. Matson has a 12 month low of $30.54 and a 12 month high of $53.18.
Matson (NYSE:MATX) last issued its earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Matson had a return on equity of 25.99% and a net margin of 5.31%. The firm had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts expect that Matson will post $2.03 earnings per share for the current fiscal year.
In other Matson news, insider Vic S. Angoco, Jr. sold 12,162 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $40.20, for a total value of $488,912.40. Following the completion of the sale, the insider now owns 48,722 shares of the company’s stock, valued at $1,958,624.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Vic S. Angoco, Jr. sold 11,476 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $36.35, for a total value of $417,152.60. Following the transaction, the senior vice president now directly owns 51,621 shares of the company’s stock, valued at approximately $1,876,423.35. The disclosure for this sale can be found here. 2.36% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new position in Matson during the first quarter valued at $137,000. Tower Research Capital LLC TRC boosted its position in Matson by 3,374.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,474 shares of the company’s stock valued at $112,000 after buying an additional 3,374 shares in the last quarter. Bank of Montreal Can acquired a new position in Matson during the second quarter valued at $127,000. PineBridge Investments L.P. boosted its position in Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock valued at $177,000 after buying an additional 176 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Matson during the second quarter valued at $273,000. 81.90% of the stock is owned by institutional investors and hedge funds.
Matson Inc is a transportation company in the Marine industry.
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