Matson, Inc. (NYSE:MATX) Stock Has Consensus Price Target of $232.33

by · The Markets Daily

Matson, Inc. (NYSE:MATX – Get Free Report) has received an average rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $239.25.

Several research firms have commented on MATX. Weiss Ratings raised shares of Matson from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Stephens raised their target price on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Freedom Broker initiated coverage on Matson in a research report on Wednesday. They issued a “buy” rating and a $260.00 price target for the company.

Get Our Latest Stock Analysis on MATX

Insiders Place Their Bets

In other news, EVP Vic S. Angoco, Jr. sold 2,293 shares of Matson stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $222.76, for a total value of $510,788.68. Following the transaction, the executive vice president owned 12,507 shares of the company’s stock, valued at $2,786,059.32. This trade represents a 15.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Sullivan sold 1,917 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $399,675.33. Following the completion of the sale, the senior vice president owned 7,630 shares of the company’s stock, valued at $1,590,778.70. The trade was a 20.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,462 shares of company stock worth $2,695,832 in the last three months. 2.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Matson during the fourth quarter worth approximately $17,276,000. Squarepoint Ops LLC grew its stake in shares of Matson by 247.3% in the second quarter. Squarepoint Ops LLC now owns 21,332 shares of the shipping company’s stock worth $4,101,000 after acquiring an additional 15,189 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Matson during the second quarter worth $3,072,000. Bank of America Corp DE increased its position in Matson by 12.6% during the first quarter. Bank of America Corp DE now owns 200,926 shares of the shipping company’s stock worth $32,940,000 after acquiring an additional 22,516 shares during the period. Finally, Baird Financial Group Inc. raised its stake in Matson by 16.1% during the 2nd quarter. Baird Financial Group Inc. now owns 112,722 shares of the shipping company’s stock valued at $21,669,000 after purchasing an additional 15,657 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 3.1%

Shares of Matson stock opened at $219.32 on Monday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 14.66 and a beta of 1.26. The stock has a 50-day simple moving average of $219.54 and a 200-day simple moving average of $196.35. Matson has a 52-week low of $86.97 and a 52-week 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.

Matson (NYSE:MATX – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.48. The firm 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 firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.92 earnings per share. On average, equities research analysts expect that Matson will post 16.01 earnings per share for the current fiscal year.

About Matson

(Get Free Report)

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containers, vehicles, construction materials, food products and other cargo between the U.S. mainland and the noncontiguous markets of Hawaii, Alaska and Guam, as well as locations in the South Pacific and Micronesia.

Matson also operates ocean transportation services connecting the U.S. West Coast with China and Japan.

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