Zacks Research Upgrades Matthews International (NASDAQ:MATW) to Hold

Matthews International (NASDAQ:MATW) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings upgraded Matthews International from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Matthews International Stock Performance

Shares of Matthews International stock opened at $25.88 on Monday. The firm has a market cap of $805.64 million, a price-to-earnings ratio of 36.45 and a beta of 1.12. The stock’s 50-day moving average is $25.81 and its 200-day moving average is $25.36. Matthews International has a one year low of $18.60 and a one year high of $29.11. 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) last issued its quarterly earnings results on Wednesday, February 4th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). The firm had revenue of $284.76 million during the quarter, compared to the consensus estimate of $282.50 million. Matthews International had a net margin of 1.64% and a return on equity of 5.95%. Equities analysts predict that Matthews International will post 1.73 earnings per share for the current fiscal year.

Institutional Trading of Matthews International

Several institutional investors and hedge funds have recently bought and sold shares of MATW. Steel Partners Holdings L.P. bought a new stake in Matthews International during the fourth quarter worth about $20,084,000. Private Capital Management LLC raised its holdings in Matthews International by 201.1% during the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after acquiring an additional 680,256 shares in the last quarter. Simcoe Capital Management LLC bought a new stake in Matthews International during the fourth quarter worth about $8,763,000. Cannell Capital LLC bought a new stake in Matthews International during the second quarter worth about $5,926,000. Finally, Focus Partners Wealth bought a new stake in Matthews International during the fourth quarter worth about $5,242,000. 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.