StockNews.com Downgrades Matson (NYSE:MATX) to Hold

Matson (NYSE:MATX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Stephens lifted their price target on Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on Matson from $86.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd.

Matson Stock Performance

Shares of MATX opened at $89.18 on Wednesday. The company’s 50 day simple moving average is $85.41 and its 200-day simple moving average is $72.98. Matson has a 12-month low of $56.51 and a 12-month high of $97.49. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market cap of $3.15 billion, a PE ratio of 7.32 and a beta of 1.21.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, August 1st. The shipping company reported $2.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.26. Matson had a net margin of 13.52% and a return on equity of 20.04%. The firm had revenue of $773.40 million for the quarter, compared to analyst estimates of $762.35 million. During the same period last year, the firm posted $9.49 EPS. Matson’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, equities analysts predict that Matson will post 5.81 EPS for the current year.

Insider Buying and Selling at Matson

In other Matson news, SVP Christopher A. Scott sold 678 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $76.30, for a total value of $51,731.40. Following the completion of the sale, the senior vice president now owns 12,276 shares of the company’s stock, valued at $936,658.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Christopher A. Scott sold 678 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $76.30, for a total transaction of $51,731.40. Following the completion of the transaction, the senior vice president now directly owns 12,276 shares in the company, valued at approximately $936,658.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Richard S. Kinney sold 1,028 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $76.45, for a total value of $78,590.60. Following the transaction, the senior vice president now owns 10,424 shares of the company’s stock, valued at $796,914.80. The disclosure for this sale can be found here. Insiders sold 28,220 shares of company stock valued at $2,365,413 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matson

Several large investors have recently added to or reduced their stakes in MATX. Parallel Advisors LLC lifted its stake in Matson by 43.1% during the second quarter. Parallel Advisors LLC now owns 362 shares of the shipping company’s stock worth $28,000 after purchasing an additional 109 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Matson during the second quarter worth $31,000. CWM LLC lifted its stake in Matson by 41.4% during the second quarter. CWM LLC now owns 413 shares of the shipping company’s stock worth $32,000 after purchasing an additional 121 shares during the last quarter. Federated Hermes Inc. lifted its stake in Matson by 39.4% during the first quarter. Federated Hermes Inc. now owns 548 shares of the shipping company’s stock worth $33,000 after purchasing an additional 155 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc bought a new position in Matson during the second quarter worth $35,000. 85.04% of the stock is currently owned by institutional investors.

About Matson

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.