Matson (NYSE:MATX) Receives “Buy” Rating from Jefferies Financial Group

Matson (NYSE:MATX)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Financial Group in a research note issued on Wednesday,Benzinga reports. They presently have a $135.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 17.99% from the company’s current price.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Finally, Stephens decreased their price objective on Matson from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.33.

Matson Stock Up 0.0%

Shares of MATX opened at $114.42 on Wednesday. The company’s 50-day simple moving average is $107.55 and its 200-day simple moving average is $128.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson has a 1 year low of $91.75 and a 1 year high of $169.12. The stock has a market capitalization of $3.74 billion, a PE ratio of 9.52 and a beta of 1.31.

Matson (NYSE:MATX) last released its earnings results on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.16). The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Matson’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Analysts forecast that Matson will post 13.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bradley D. Tilden acquired 2,752 shares of Matson stock in a transaction dated Thursday, May 29th. The stock was acquired at an average price of $111.76 per share, for a total transaction of $307,563.52. Following the transaction, the director now owns 8,180 shares of the company’s stock, valued at $914,196.80. This represents a 50.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the transaction, the senior vice president now directly owns 5,644 shares in the company, valued at $629,136.68. This trade represents a 8.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company’s stock.

Institutional Investors Weigh In On Matson

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. grew its holdings in shares of Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company’s stock worth $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Matson in the 4th quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in Matson during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new position in Matson during the fourth quarter worth approximately $36,000. Finally, IFP Advisors Inc acquired a new position in Matson during the fourth quarter worth approximately $40,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.