Shares of Matson, Inc. (NYSE:MATX) have earned an average broker rating score of 2.50 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $45.00 for the company and are forecasting that the company will post $0.15 EPS for the current quarter, according to Zacks. Zacks has also given Matson an industry rank of 196 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a research note on Wednesday, January 11th.
In related news, Director Michael J. Chun sold 4,300 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $34.34, for a total transaction of $147,662.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.36% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Hermes Investment Management Ltd. boosted its position in Matson by 12.3% in the third quarter. Hermes Investment Management Ltd. now owns 592,064 shares of the shipping company’s stock valued at $23,612,000 after buying an additional 64,956 shares during the period. Aperio Group LLC boosted its position in Matson by 3.2% in the third quarter. Aperio Group LLC now owns 8,542 shares of the shipping company’s stock valued at $341,000 after buying an additional 261 shares during the period. Investment Counselors of Maryland LLC boosted its position in Matson by 16.1% in the third quarter. Investment Counselors of Maryland LLC now owns 471,020 shares of the shipping company’s stock valued at $18,784,000 after buying an additional 65,320 shares during the period. TD Asset Management Inc. boosted its position in Matson by 43.2% in the third quarter. TD Asset Management Inc. now owns 22,200 shares of the shipping company’s stock valued at $885,000 after buying an additional 6,700 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Matson by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 578,984 shares of the shipping company’s stock valued at $23,090,000 after buying an additional 30,323 shares during the period. Hedge funds and other institutional investors own 83.14% of the company’s stock.
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Matson (NYSE:MATX) traded down 1.40% during trading on Tuesday, hitting $31.59. The stock had a trading volume of 168,664 shares. The company has a 50 day moving average of $31.73 and a 200-day moving average of $35.91. Matson has a 12-month low of $28.79 and a 12-month high of $43.00. The company has a market cap of $1.36 billion, a P/E ratio of 17.08 and a beta of 1.02.
Matson (NYSE:MATX) last announced its earnings results on Tuesday, February 21st. The shipping company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.02. Matson had a net margin of 4.57% and a return on equity of 20.49%. The business had revenue of $519.30 million for the quarter, compared to the consensus estimate of $493.69 million. During the same quarter in the previous year, the company earned $0.60 EPS. Matson’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Matson will post $1.61 EPS for the current year.
Matson, Inc is a transportation company in the Marine industry.
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