Stephens Raises Matson (NYSE:MATX) Price Target to $175.00

Matson (NYSE:MATX) had its price target boosted by Stephens from $165.00 to $175.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the shipping company’s stock. Stephens’ price objective suggests a potential upside of 24.52% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus lifted their target price on shares of Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday. Wolfe Research lowered Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Matson Stock Performance

Shares of MATX opened at $140.55 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 11.69 and a beta of 1.05. Matson has a 12 month low of $100.50 and a 12 month high of $169.12. The company’s fifty day moving average is $139.52 and its 200-day moving average is $141.11.

Matson (NYSE:MATX) last issued its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. Equities analysts expect that Matson will post 13.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Matson

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brucke Financial Inc. bought a new position in Matson during the fourth quarter worth $352,000. Leigh Baldwin & CO. LLC bought a new position in Matson during the fourth quarter worth $259,000. Ameriflex Group Inc. bought a new position in Matson during the fourth quarter worth $36,000. Vise Technologies Inc. increased its position in Matson by 7.2% during the fourth quarter. Vise Technologies Inc. now owns 3,271 shares of the shipping company’s stock worth $441,000 after acquiring an additional 219 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Matson by 10.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,967 shares of the shipping company’s stock worth $2,962,000 after acquiring an additional 2,029 shares during the period. Institutional investors own 84.76% of the company’s stock.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.