Oppenheimer analyst Ian Zaffino maintained a Buy rating on Matson (NYSE: MATX) yesterday and set a price target of $52. The company’s shares closed yesterday at $36.14.
Zaffino noted:
“Driven by lower vessel operating costs, contribution from the new Okinawa service, higher contribution from SSAT, and strong performance from Logistics, partially offset by softness in Guam, MATX reported solid 2Q18 results. Adjusted EBITDA of $79.3M compared to our/Street’s estimates of $77.5/$77.8M. Following a robust 1H18 performance, management remains positive and raised its FY2018 outlook for Logistics while reiterating expectations of modest improvements at Ocean Transportation. Management now anticipates FY2018 EBITDA to be modestly lower than the $296M achieved in 2017. We raise our FY2018 EBITDA to $293 from $288M. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.0% and a 54.1% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Destinations Inc, and Peak Resorts.
Matson has an analyst consensus of Moderate Buy, with a price target consensus of $46.50.
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Matson’s market cap is currently $1.54B and has a P/E ratio of 6.25. The company has a Price to Book ratio of 2.21.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock.
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Matson, Inc. is a holding company, which engages in the provision of logistics and transportation services. It operates through two segments: Ocean Transportation and Logistics. The Ocean Transportation segment offers marine freight, container stevedoring, maintenance, and terminal activities.
