Matson (NYSE:MATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, January 4th. The firm currently has a $35.00 target price on the shipping company’s stock. Zacks Investment Research‘s price target suggests a potential downside of 1.52% from the company’s current price.

According to Zacks, “Matson, Inc. operates as an ocean transportation and logistics company. It offers shipping services in Hawaii, Guam, and Micronesia islands and expedited service from China to southern California. The company’s logistics services consist of rail intermodal service, long haul and regional highway truckload services, less-than-truckload transportation, specialized hauling, flatbed, and project works, warehousing and distribution services, transloading, cross-dock services, and packaging services, and network analysis and freight management services. Matson, Inc., formerly known as Alexander & Baldwin Holdings, Inc., is headquartered in Honolulu, Hawaii. “

Several other research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Matson from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Wells Fargo & Co restated an “underperform” rating and issued a $22.00 target price on shares of Matson in a report on Monday, September 25th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of Matson in a report on Thursday, September 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Matson has a consensus rating of “Hold” and a consensus target price of $31.60.

Shares of Matson (NYSE:MATX) traded down $2.14 during trading hours on Thursday, hitting $35.54. 135,761 shares of the company’s stock were exchanged, compared to its average volume of 253,454. Matson has a 52 week low of $21.63 and a 52 week high of $40.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $1,324.37, a P/E ratio of 19.09, a PEG ratio of 3.27 and a beta of 1.27.

Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. Matson had a net margin of 4.12% and a return on equity of 17.49%. The company had revenue of $543.90 million for the quarter, compared to the consensus estimate of $531.61 million. During the same period in the prior year, the firm posted $0.59 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. research analysts expect that Matson will post 1.8 earnings per share for the current fiscal year.

In other Matson news, President Ronald J. Forest sold 16,491 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total transaction of $482,856.48. Following the completion of the transaction, the president now owns 94,977 shares in the company, valued at approximately $2,780,926.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its holdings in shares of Matson by 89.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 1,695 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Matson in the 3rd quarter valued at about $191,000. Virtu KCG Holdings LLC purchased a new position in shares of Matson in the 2nd quarter valued at about $248,000. Crossmark Global Holdings Inc. purchased a new position in shares of Matson in the 3rd quarter valued at about $234,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Matson in the 2nd quarter valued at about $280,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

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About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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