Matson (NYSE:MATX)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research report issued on Monday, Marketbeat.com reports. They presently have a $38.00 target price on the shipping company’s stock, up from their prior target price of $32.00. Stifel Nicolaus’ price target indicates a potential upside of 8.17% from the stock’s previous close.

MATX has been the topic of several other research reports. Zacks Investment Research lowered shares of Matson from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. BidaskClub lowered shares of Matson from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.60.

Matson (NYSE MATX) opened at $35.13 on Monday. The stock has a market cap of $1,324.37, a PE ratio of 19.09, a PEG ratio of 3.27 and a beta of 1.27. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.07 and a quick ratio of 1.07. Matson has a one year low of $21.63 and a one year high of $40.32.

Matson (NYSE:MATX) last issued its earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.20. The company had revenue of $543.90 million for the quarter, compared to analyst estimates of $531.61 million. Matson had a net margin of 4.12% and a return on equity of 17.49%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. sell-side analysts expect that Matson will post 1.8 earnings per share for the current fiscal year.

In related news, President Ronald J. Forest sold 16,491 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total value of $482,856.48. Following the sale, the president now directly owns 94,977 shares in the company, valued at approximately $2,780,926.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Several large investors have recently made changes to their positions in MATX. Schwab Charles Investment Management Inc. raised its position in shares of Matson by 10.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 268,290 shares of the shipping company’s stock valued at $8,060,000 after acquiring an additional 24,415 shares during the period. Riverhead Capital Management LLC raised its position in shares of Matson by 89.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 1,695 shares during the period. Teachers Advisors LLC raised its position in shares of Matson by 0.8% in the 2nd quarter. Teachers Advisors LLC now owns 75,128 shares of the shipping company’s stock valued at $2,257,000 after acquiring an additional 609 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Matson by 8.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 232,164 shares of the shipping company’s stock valued at $6,974,000 after acquiring an additional 18,397 shares during the period. Finally, Thrivent Financial For Lutherans raised its position in shares of Matson by 5.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 25,850 shares of the shipping company’s stock valued at $777,000 after acquiring an additional 1,380 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/matson-matx-given-buy-rating-at-stifel-nicolaus/1833710.html.

Matson Company Profile

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Receive News & Ratings for Matson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson and related companies with MarketBeat.com's FREE daily email newsletter.