Matson (NYSE:MATX) Rating Increased to Strong-Buy at Zacks Research

Matson (NYSE:MATX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Weiss Ratings raised Matson from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Matson from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen upgraded shares of Matson from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stephens upped their price target on shares of Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $232.33.

Matson Stock Up 0.8%

NYSE:MATX opened at $207.84 on Thursday. The firm has a market capitalization of $6.21 billion, a PE ratio of 13.89 and a beta of 1.27. The stock has a 50 day moving average of $201.72 and a 200-day moving average of $179.48. Matson has a 52 week low of $86.97 and a 52 week high of $230.74. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

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

Insider Transactions at Matson

In related news, SVP Laura L. Rascon sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $188.53, for a total value of $527,884.00. Following the sale, the senior vice president directly owned 15,656 shares in the company, valued at $2,951,625.68. This trade represents a 15.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kuuhaku T. Park sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $450,475.00. Following the transaction, the senior vice president owned 10,984 shares of the company’s stock, valued at $1,979,206.96. This trade represents a 18.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,733 shares of company stock worth $2,863,990 over the last quarter. Insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Matson

Several institutional investors have recently bought and sold shares of MATX. Royal Bank of Canada raised its position in shares of Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock worth $5,300,000 after buying an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Matson by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after acquiring an additional 863 shares during the period. Millennium Management LLC boosted its holdings in shares of Matson by 7.1% in the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock valued at $13,154,000 after acquiring an additional 6,778 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Matson in the first quarter valued at approximately $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after acquiring an additional 2,492 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.