Matson (MATX) Lowered to “Sell” at Zacks Investment Research

Matson (NYSE:MATX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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 also recently weighed in on MATX. ValuEngine downgraded Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Stifel Nicolaus downgraded Matson from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Matson currently has a consensus rating of “Hold” and a consensus target price of $41.60.

Shares of MATX stock opened at $34.10 on Thursday. Matson has a twelve month low of $27.73 and a twelve month high of $41.96. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 19.16 and a beta of 1.45. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16.

In related news, SVP Peter T. Heilmann sold 2,750 shares of Matson stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $39.74, for a total value of $109,285.00. Following the sale, the senior vice president now directly owns 41,435 shares in the company, valued at $1,646,626.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Ronald J. Forest sold 1,000 shares of Matson stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $32.28, for a total value of $32,280.00. Following the completion of the sale, the president now owns 58,884 shares in the company, valued at $1,900,775.52. The disclosure for this sale can be found here. Insiders sold a total of 5,750 shares of company stock worth $215,255 over the last quarter. Company insiders own 2.48% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates purchased a new stake in shares of Matson in the second quarter valued at approximately $624,000. Alps Advisors Inc. boosted its stake in shares of Matson by 161.1% in the third quarter. Alps Advisors Inc. now owns 76,780 shares of the shipping company’s stock valued at $3,044,000 after buying an additional 47,379 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Matson by 656.6% in the third quarter. Bank of Montreal Can now owns 25,007 shares of the shipping company’s stock valued at $992,000 after buying an additional 21,702 shares in the last quarter. Globeflex Capital L P boosted its stake in shares of Matson by 40.5% in the third quarter. Globeflex Capital L P now owns 45,433 shares of the shipping company’s stock valued at $1,801,000 after buying an additional 13,098 shares in the last quarter. Finally, Bridgeway Capital Management Inc. boosted its stake in shares of Matson by 333.4% in the third quarter. Bridgeway Capital Management Inc. now owns 245,690 shares of the shipping company’s stock valued at $9,739,000 after buying an additional 189,000 shares in the last quarter. Hedge funds and other institutional investors own 86.83% 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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