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

Matson (NYSE:MATX) had its price objective increased by investment analysts at Stephens from $165.00 to $175.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping company’s stock. Stephens’ target price would indicate a potential upside of 24.52% from the company’s current price.

A number of other brokerages have also recently commented on MATX. Stifel Nicolaus upped their price target on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 18th.

Matson Stock Down 2.2 %

Shares of NYSE MATX opened at $140.55 on Wednesday. The firm’s 50-day simple moving average is $139.52 and its 200 day simple moving average is $141.11. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 11.69 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson has a 12-month low of $100.50 and a 12-month high of $169.12.

Matson (NYSE:MATX) last announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.60. The firm had revenue of $890.30 million during the quarter, compared to analysts’ expectations of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. On average, research analysts expect that Matson will post 13.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matson

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. grew its position in shares of Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company’s stock valued at $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Matson in the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new position in shares of Matson in the 4th quarter valued at approximately $36,000. IFP Advisors Inc acquired a new position in shares of Matson in the 4th quarter valued at approximately $40,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Matson in the 3rd quarter valued at approximately $50,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.