Matthews International (NASDAQ:MATW) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Matthews International (NASDAQ:MATW) from a buy rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on MATW. Zacks Investment Research lowered Matthews International from a buy rating to a hold rating in a research report on Thursday, October 3rd. ValuEngine upgraded Matthews International from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $57.50.

Shares of MATW stock opened at $34.59 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.36 and a current ratio of 1.96. Matthews International has a fifty-two week low of $28.57 and a fifty-two week high of $47.24. The firm has a market cap of $1.09 billion, a P/E ratio of 8.73 and a beta of 1.20. The business’s 50 day moving average price is $32.91 and its 200-day moving average price is $34.69.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The firm had revenue of $379.30 million for the quarter, compared to the consensus estimate of $388.38 million. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts predict that Matthews International will post 3.6 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MATW. Nuveen Asset Management LLC bought a new stake in shares of Matthews International during the second quarter valued at approximately $4,513,000. Gamco Investors INC. ET AL boosted its holdings in Matthews International by 29.5% in the second quarter. Gamco Investors INC. ET AL now owns 377,573 shares of the company’s stock worth $13,158,000 after acquiring an additional 86,075 shares in the last quarter. Morgan Stanley boosted its holdings in Matthews International by 112.8% in the second quarter. Morgan Stanley now owns 160,987 shares of the company’s stock worth $5,610,000 after acquiring an additional 85,328 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Matthews International in the second quarter worth $1,977,000. Finally, Geode Capital Management LLC boosted its holdings in Matthews International by 10.7% in the fourth 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 in the last quarter. Institutional investors own 81.44% of the company’s stock.

Matthews International Company Profile

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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