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

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. “

MATX has been the topic of a number of other research reports. Wells Fargo & Co downgraded shares of Matson to a “hold” rating and set a $35.00 price target on the stock. in a research note on Friday, September 28th. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. Finally, Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Matson presently has a consensus rating of “Hold” and a consensus price target of $41.33.

Matson stock traded down $0.16 during mid-day trading on Wednesday, reaching $33.40. 769 shares of the company’s stock traded hands, compared to its average volume of 220,436. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 18.73 and a beta of 1.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.16. Matson has a 12-month low of $27.73 and a 12-month high of $41.96.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The company had revenue of $589.40 million for the quarter, compared to the consensus estimate of $565.67 million. Matson had a net margin of 11.74% and a return on equity of 14.31%. Matson’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, equities research analysts anticipate that Matson will post 2.52 earnings per share for the current fiscal year.

In other Matson news, President Ronald J. Forest sold 1,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $40.00, for a total transaction of $40,000.00. Following the transaction, the president now owns 59,884 shares in the company, valued at $2,395,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter T. Heilmann sold 2,750 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $39.74, for a total transaction of $109,285.00. Following the transaction, the senior vice president now owns 41,435 shares in the company, valued at approximately $1,646,626.90. The disclosure for this sale can be found here. Insiders have sold 5,750 shares of company stock worth $216,565 in the last quarter. Company insiders own 2.48% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Matson by 7.1% in the second quarter. BlackRock Inc. now owns 6,228,684 shares of the shipping company’s stock worth $239,058,000 after purchasing an additional 414,250 shares during the last quarter. Bridgeway Capital Management Inc. grew its holdings 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 worth $9,739,000 after purchasing an additional 189,000 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Matson in the third quarter worth about $6,231,000. RK Capital Management LLC bought a new position in shares of Matson in the third quarter worth about $5,010,000. Finally, Vanguard Group Inc grew its holdings in shares of Matson by 1.5% in the third quarter. Vanguard Group Inc now owns 4,204,197 shares of the shipping company’s stock worth $166,654,000 after purchasing an additional 63,276 shares during the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.

About Matson

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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