Matson, Inc. (NYSE:MATX) Stock Has Consensus Price Target of $249.25 According to Analysts

Matson, Inc. (NYSE:MATX) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $249.25.

Several equities analysts have commented on the stock. Zacks Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Stephens increased their price objective on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Matson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Freedom Broker initiated coverage on Matson in a report on Wednesday, September 30th. They issued a “buy” rating and a $260.00 target price for the company. Finally, Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Matson Stock Down 0.9%

Shares of NYSE:MATX opened at $226.76 on Friday. The firm has a market capitalization of $6.78 billion, a PE ratio of 15.16 and a beta of 1.30. Matson has a 1 year low of $96.70 and a 1 year high of $240.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day moving average is $227.74 and its two-hundred day moving average is $192.03.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. During the same quarter last year, the firm posted $2.92 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts predict that Matson will post 16.01 EPS for the current year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Matson’s dividend payout ratio (DPR) is currently 10.16%.

Insider Buying and Selling at Matson

In related news, EVP Peter T. Heilmann sold 5,000 shares of Matson stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total value of $1,100,750.00. Following the completion of the transaction, the executive vice president owned 20,506 shares in the company, valued at $4,514,395.90. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kuuhaku T. Park sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $208,490.00. Following the transaction, the senior vice president owned 9,984 shares of the company’s stock, valued at $2,081,564.16. This trade represents a 9.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,462 shares of company stock valued at $2,695,832. 2.51% of the stock is currently owned by company insiders.

Institutional Trading of Matson

A number of hedge funds and other institutional investors have recently bought and sold shares of MATX. GAMMA Investing LLC grew its holdings in shares of Matson by 3.4% during the second quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock worth $462,000 after purchasing an additional 80 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Matson by 0.3% during the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock worth $5,021,000 after purchasing an additional 104 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Matson by 0.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock valued at $2,418,000 after purchasing an additional 107 shares during the last quarter. Choreo LLC lifted its holdings in shares of Matson by 3.4% in the 3rd quarter. Choreo LLC now owns 4,098 shares of the shipping company’s stock valued at $900,000 after purchasing an additional 133 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Matson in the 2nd quarter valued at about $28,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About Matson

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.