Matthews International Corporation (MATW) Rating Increased to Hold at Zacks Investment Research
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.
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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).
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