Matthews International Corporation (NASDAQ:MATW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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 brokerages have also issued reports on MATW. BidaskClub lowered Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Macquarie raised Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Wednesday, July 5th. Finally, FBR & Co reiterated an “outperform” rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Matthews International Corporation currently has a consensus rating of “Hold” and an average price target of $83.50.

Shares of Matthews International Corporation (MATW) opened at 64.50 on Monday. The company has a market cap of $2.08 billion, a PE ratio of 27.18 and a beta of 1.14. Matthews International Corporation has a 12 month low of $57.40 and a 12 month high of $77.85. The stock has a 50 day moving average of $60.54 and a 200-day moving average of $64.06.

Matthews International Corporation (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. Matthews International Corporation had a return on equity of 16.23% and a net margin of 5.17%. The business had revenue of $389.63 million for the quarter, compared to the consensus estimate of $392.03 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. Matthews International Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Matthews International Corporation will post $3.61 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/matthews-international-corporation-matw-rating-increased-to-hold-at-zacks-investment-research/1606328.html.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Matthews International Corporation by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,105,791 shares of the company’s stock valued at $190,229,000 after buying an additional 24,754 shares in the last quarter. Clarkston Capital Partners LLC boosted 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 buying an additional 5,245 shares during the period. State Street Corp boosted its holdings in Matthews International Corporation by 4.3% in the 2nd quarter. State Street Corp now owns 785,834 shares of the company’s stock worth $48,137,000 after buying an additional 32,125 shares during the period. Channing Capital Management LLC boosted 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 buying an additional 18,004 shares during the period. Finally, FMR LLC grew its stake in Matthews International Corporation by 14.3% in the 2nd quarter. FMR LLC now owns 764,748 shares of the company’s stock valued at $46,841,000 after buying an additional 95,500 shares in the last quarter. 78.57% of the stock is currently owned by institutional investors.

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).

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