Matthews International (NASDAQ:MATW) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday.
Several other brokerages have also recently commented on MATW. Zacks Investment Research raised shares of Matthews International from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. B. Riley reaffirmed a “buy” rating and set a $92.00 price target on shares of Matthews International in a research report on Monday, November 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $83.50.
Matthews International (NASDAQ MATW) traded up $0.45 during trading hours on Tuesday, reaching $53.70. 267,500 shares of the company’s stock were exchanged, compared to its average volume of 95,793. The company has a current ratio of 2.09, a quick ratio of 1.49 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1,711.91, a PE ratio of 14.92 and a beta of 1.08. Matthews International has a one year low of $52.70 and a one year high of $77.85.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP lifted its position in shares of Matthews International by 1,289.0% during the second quarter. Quantbot Technologies LP now owns 2,139 shares of the company’s stock worth $131,000 after purchasing an additional 1,985 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Matthews International during the third quarter worth about $159,000. Riverhead Capital Management LLC raised its stake in Matthews International by 60.6% during the second quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock worth $167,000 after acquiring an additional 1,031 shares during the period. Neuberger Berman Group LLC acquired a new stake in Matthews International during the third quarter worth about $213,000. Finally, Victory Capital Management Inc. raised its stake in Matthews International by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,474 shares of the company’s stock worth $213,000 after acquiring an additional 520 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.
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Matthews International Company Profile
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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