Matthews International Corporation (NASDAQ:MATW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

According to Zacks, “Matthews International Corporation is a designer, manufacturer and marketer principally of memorialization products & brand solutions. Memorialization products consist primarily of bronze memorials and other memorialization products, caskets and cremation equipment for the cemetery & funeral home industries. Brand solutions include graphics imaging products & services, marking products, & merchandising solutions. The Company’s products & services include cast bronze memorials & other memorialization products; caskets; cast & etched architectural products; cremation equipment & cremation- related products; mausoleums; brand management, printing plates, pre-press services, & imaging systems for the primary packaging & corrugated industries; marking equipment & consumables, & industrial automation products for identifying, tracking & conveying various consumer & industrial products, components & packaging containers; & merchandising display systems and marketing & design services. “

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Matthews International Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. FBR & Co reiterated an “outperform” rating on shares of Matthews International Corporation in a report on Tuesday, July 11th. Finally, Macquarie upgraded shares of Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Matthews International Corporation currently has an average rating of “Hold” and a consensus price target of $83.50.

Matthews International Corporation (NASDAQ:MATW) opened at 61.25 on Friday. Matthews International Corporation has a 12-month low of $57.40 and a 12-month high of $77.85. The firm has a market cap of $1.97 billion, a PE ratio of 25.81 and a beta of 1.13. The stock has a 50 day moving average of $61.26 and a 200 day moving average of $64.42.

Matthews International Corporation (NASDAQ:MATW) last announced its earnings results on Thursday, July 27th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $389.63 million for the quarter, compared to the consensus estimate of $392.03 million. Matthews International Corporation had a net margin of 5.17% and a return on equity of 16.23%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. On average, equities research analysts anticipate that Matthews International Corporation will post $3.61 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in MATW. Clarkston Capital Partners LLC raised its holdings in Matthews International Corporation by 0.5% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,077,161 shares of the company’s stock worth $65,976,000 after acquiring an additional 5,245 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Matthews International Corporation by 3.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock worth $466,000 after acquiring an additional 270 shares during the period. Janney Montgomery Scott LLC raised its holdings in Matthews International Corporation by 29.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 15,682 shares of the company’s stock worth $961,000 after acquiring an additional 3,537 shares during the period. Great West Life Assurance Co. Can raised its holdings in Matthews International Corporation by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 46,596 shares of the company’s stock worth $2,851,000 after acquiring an additional 1,520 shares during the period. Finally, Channing Capital Management LLC raised its holdings in Matthews International Corporation by 2.3% in the 2nd quarter. Channing Capital Management LLC now owns 785,667 shares of the company’s stock worth $48,122,000 after acquiring an additional 18,004 shares during the period. Hedge funds and other institutional investors own 78.57% of the company’s stock.

Matthews International Corporation Company Profile

Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).

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