BidaskClub upgraded shares of Matthews International (NASDAQ:MATW) from a sell rating to a hold rating in a research note published on Wednesday morning, BidAskClub reports.

Separately, Zacks Investment Research upgraded Matthews International from a hold rating to a buy rating and set a $35.00 target price for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $58.67.

Shares of MATW opened at $34.03 on Wednesday. Matthews International has a 12 month low of $28.57 and a 12 month high of $52.45. The stock has a fifty day moving average price of $31.61 and a 200-day moving average price of $35.10. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.07 billion, a PE ratio of 9.60 and a beta of 1.18.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). The firm had revenue of $379.30 million during the quarter, compared to analysts’ expectations of $388.38 million. Matthews International had a return on equity of 13.20% and a net margin of 4.04%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. As a group, research analysts forecast that Matthews International will post 3.6 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Mason Street Advisors LLC raised its stake in Matthews International by 2.8% in the 1st quarter. Mason Street Advisors LLC now owns 10,236 shares of the company’s stock worth $378,000 after acquiring an additional 276 shares during the last quarter. Advisor Group Inc. grew its position in Matthews International by 30.2% during the 2nd quarter. Advisor Group Inc. now owns 1,683 shares of the company’s stock worth $59,000 after purchasing an additional 390 shares during the period. Piedmont Investment Advisors Inc. grew its position in Matthews International by 5.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,061 shares of the company’s stock worth $298,000 after purchasing an additional 444 shares during the period. Texas Permanent School Fund grew its position in Matthews International by 3.1% during the 1st quarter. Texas Permanent School Fund now owns 21,640 shares of the company’s stock worth $800,000 after purchasing an additional 652 shares during the period. Finally, Bbva USA Bancshares Inc. grew its position in Matthews International by 12.7% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 6,509 shares of the company’s stock worth $226,000 after purchasing an additional 734 shares during the period. Institutional investors own 81.44% of the company’s stock.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

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