Matson (NYSE:MATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $44.00 price objective on the shipping company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.45% from the stock’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. “

Other analysts also recently issued reports about the company. TheStreet upgraded Matson from a “c+” rating to a “b-” rating in a research report on Thursday, May 24th. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Oppenheimer reiterated a “buy” rating on shares of Matson in a research report on Tuesday, May 8th. Finally, Stephens set a $33.00 target price on Matson and gave the stock a “hold” rating in a research report on Monday, April 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $38.17.

Shares of MATX opened at $39.13 on Wednesday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 21.98, a P/E/G ratio of 3.54 and a beta of 1.46. Matson has a 52-week low of $21.63 and a 52-week high of $40.32. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.27.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, May 1st. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The company had revenue of $511.40 million during the quarter, compared to the consensus estimate of $463.48 million. Matson had a return on equity of 14.30% and a net margin of 11.48%. Matson’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. sell-side analysts anticipate that Matson will post 2.21 earnings per share for the current fiscal year.

In other news, Director W Blake Baird sold 2,000 shares of the firm’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $31.12, for a total transaction of $62,240.00. Following the transaction, the director now owns 17,015 shares in the company, valued at $529,506.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Ronald J. Forest sold 1,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $38.38, for a total value of $38,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,558 shares of company stock valued at $586,484. Corporate insiders own 2.48% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Matson by 12.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 21,096 shares of the shipping company’s stock valued at $605,000 after buying an additional 2,304 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Matson during the first quarter valued at $1,280,000. Principal Financial Group Inc. increased its stake in shares of Matson by 2.4% during the first quarter. Principal Financial Group Inc. now owns 325,356 shares of the shipping company’s stock valued at $9,318,000 after buying an additional 7,713 shares during the period. Legal & General Group Plc increased its stake in shares of Matson by 2.4% during the first quarter. Legal & General Group Plc now owns 78,909 shares of the shipping company’s stock valued at $2,247,000 after buying an additional 1,831 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in shares of Matson during the first quarter valued at $350,000. Hedge funds and other institutional investors own 84.16% of the company’s stock.

Matson Company Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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