Zacks Investment Research upgraded shares of Matson Inc. (NYSE:MATX) from a hold rating to a buy rating in a report issued on Wednesday. They currently have $46.00 price target on the stock.
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 set a $46.00 price target on shares of Matson in a research note on Monday.
Matson (NYSE:MATX) opened at 40.59 on Wednesday. The firm has a market capitalization of $1.74 billion, a P/E ratio of 17.04 and a beta of 1.19. The firm has a 50-day moving average price of $39.33 and a 200-day moving average price of $36.21. Matson has a one year low of $30.54 and a one year high of $53.18.
Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. Matson had a return on equity of 25.99% and a net margin of 5.31%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Equities analysts anticipate that Matson will post $2.03 earnings per share for the current year.
In other Matson news, SVP Vic S. Angoco, Jr. sold 11,476 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $36.35, for a total transaction of $417,152.60. Following the completion of the sale, the senior vice president now directly owns 51,621 shares of the company’s stock, valued at approximately $1,876,423.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $40.20, for a total value of $488,912.40. Following the sale, the insider now directly owns 48,722 shares of the company’s stock, valued at $1,958,624.40. The disclosure for this sale can be found here. Company insiders own 2.36% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MATX. Schonfeld Strategic Advisors LLC bought a new stake in Matson during the first quarter worth $365,000. Hancock Holding Co. boosted its stake in Matson by 4.7% in the first quarter. Hancock Holding Co. now owns 20,197 shares of the company’s stock valued at $811,000 after buying an additional 900 shares in the last quarter. Geode Capital Management LLC boosted its stake in Matson by 4.4% in the first quarter. Geode Capital Management LLC now owns 383,981 shares of the company’s stock valued at $15,424,000 after buying an additional 16,212 shares in the last quarter. UBS Group AG boosted its stake in Matson by 61.9% in the first quarter. UBS Group AG now owns 32,051 shares of the company’s stock valued at $1,287,000 after buying an additional 12,250 shares in the last quarter. Finally, State Street Corp boosted its stake in Matson by 2.7% in the first quarter. State Street Corp now owns 970,099 shares of the company’s stock valued at $38,961,000 after buying an additional 25,707 shares in the last quarter. 81.90% of the stock is owned by institutional investors.
Matson Inc is a transportation company in the Marine industry.