Price Action Alert: Matson, Inc. Surges to 52-Week Low, Is Now Worst Performer

Price Action Alert: Matson, Inc. Surges to 52 Week Low, Is Now Worst Performer

The stock of Matson, Inc. (NYSE:MATX) hit a new 52-week low and has $27.73 target or 8.00% below today’s $30.14 share price. The 6 months bearish chart indicates high risk for the $1.79 billion company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $27.73 price target is reached, the company will be worth $143.20 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 471,915 shares traded hands or 169.44% up from the average. Matson, Inc. (NYSE:MATX) has risen 5.01% since April 5, 2016 and is uptrending. It has outperformed by 3.06% the S&P500.

Matson, Inc. (NYSE:MATX) Ratings Coverage

Out of 2 analysts covering Matson (NYSE:MATX), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Matson has been the topic of 3 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was downgraded on Tuesday, November 8 by Stifel Nicolaus. The company was maintained on Monday, November 9 by FBR Capital. The stock has “Buy” rating given by Stifel Nicolaus on Wednesday, August 5.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.55 in Q2 2016. Its down 0.29, from 0.84 in 2016Q1. The ratio is negative, as 37 funds sold all Matson, Inc. shares owned while 76 reduced positions. 18 funds bought stakes while 44 increased positions. They now own 34.63 million shares or 0.95% less from 34.96 million shares in 2016Q1.
Kcg has invested 0.01% of its portfolio in Matson, Inc. (NYSE:MATX). Moreover, National Bank Of Hawaii has 0.37% invested in Matson, Inc. (NYSE:MATX) for 106,401 shares. Virginia Retirement System Et Al accumulated 12,100 shares or 0.01% of the stock. Shell Asset Mngmt last reported 55,659 shares in the company. Of Vermont holds 0.01% of its portfolio in Matson, Inc. (NYSE:MATX) for 2,874 shares. New York State Teachers Retirement Systems holds 0.01% of its portfolio in Matson, Inc. (NYSE:MATX) for 86,685 shares. Fuller Thaler Asset Management Incorporated holds 1.48% or 2.67M shares in its portfolio. Prudential Fin holds 0.01% or 257,075 shares in its portfolio. Moreover, Jpmorgan Chase And has 0.01% invested in Matson, Inc. (NYSE:MATX) for 622,437 shares. London Co Of Virginia holds 0.57% or 2.31M shares in its portfolio. Blackrock Advsr Ltd Liability last reported 85,493 shares in the company. Thrivent Finance For Lutherans has invested 0% of its portfolio in Matson, Inc. (NYSE:MATX). Stifel holds 0.01% of its portfolio in Matson, Inc. (NYSE:MATX) for 41,809 shares. Blackrock Investment Mngmt Limited Liability last reported 0.01% of its portfolio in the stock. Next Financial Gp last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 4 selling transactions for $983,675 net activity. The insider BAIRD W BLAKE sold $35,956. Angoco Vic S Jr sold $488,896 worth of Matson, Inc. (NYSE:MATX) on Thursday, September 1.

More notable recent Matson, Inc. (NYSE:MATX) news were published by: Prnewswire.com which released: “Matson, Inc. Announces Third Quarter EPS Of $0.58 And Provides Outlook For The …” on November 07, 2016, also Prnewswire.com with their article: “Stanley Kuriyama Appointed To Matson, Inc. Board Of Directors” published on June 23, 2016, Prnewswire.com published: “Matson Announces Closing Of $200 Million Debt Private Placement” on September 14, 2016. More interesting news about Matson, Inc. (NYSE:MATX) were released by: Bizjournals.com and their article: “Matson Inc. loses empty containers at sea off San Francisco” published on December 14, 2015 as well as Bizjournals.com‘s news article titled: “Matson reports Q1 net income of $18.1M” with publication date: May 05, 2016.

MATX Company Profile

Matson, Inc. (Matson), incorporated on January 25, 2012, is a holding company. The Firm provides ocean transportation and logistics services. The Firm operates through two divisions: Ocean Transportation and Logistics. The Company’s Ocean Transportation business is conducted through its subsidiary, Matson Navigation Company, Inc. (MatNav). MatNav is an asset business that provides ocean freight transportation services to the domestic economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia and in the South Pacific. Matson’s fleet consists of approximately 20 owned and over three chartered vessels, including containerships, combination container/roll-on/roll-off ships, roll-on/roll-off barge and barges equipped with cranes. Matson’s Logistics business is conducted through Matson Logistics, Inc. (Matson Logistics or Logistics), a subsidiary of MatNav. Matson Logistics is an asset-light business that provides multimodal transportation services, including domestic and international rail intermodal service (Intermodal); long-haul and regional highway brokerage, specialized hauling, flat-bed and project services, less-than-truckload services, expedited freight services (collectively Highway); supply chain management, and warehousing and distribution services.

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