Matthews International (MATW) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Matthews International (NASDAQ:MATW) from a strong sell rating to a sell rating in a research report released on Thursday, BidAskClub reports.

Several other equities analysts have also issued reports on MATW. Zacks Investment Research upgraded Matthews International from a sell rating to a hold rating in a research report on Friday, January 4th. Wellington Shields downgraded Matthews International from a buy rating to a hold rating in a research report on Friday, February 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Matthews International has an average rating of Hold and a consensus target price of $66.00.

Shares of MATW opened at $38.63 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.04 and a quick ratio of 1.42. Matthews International has a 52-week low of $35.50 and a 52-week high of $61.25. The company has a market capitalization of $1.23 billion, a P/E ratio of 9.76 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, January 31st. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Matthews International had a return on equity of 14.35% and a net margin of 4.68%. The business had revenue of $374.18 million during the quarter, compared to analyst estimates of $358.55 million. Equities analysts forecast that Matthews International will post 4.04 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Matthews International by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 370,891 shares of the company’s stock worth $15,065,000 after acquiring an additional 35,762 shares during the last quarter. Norges Bank acquired a new position in Matthews International during the 4th quarter worth approximately $15,403,000. Legal & General Group Plc boosted its position in Matthews International by 3.1% during the 4th quarter. Legal & General Group Plc now owns 76,286 shares of the company’s stock worth $3,091,000 after acquiring an additional 2,283 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Matthews International by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 22,948 shares of the company’s stock worth $932,000 after acquiring an additional 504 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Matthews International during the 4th quarter worth approximately $130,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

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