Market Runner: How Analysts Feel About Matthews International Corp After Reaching 52-Week High?

Market Runner: How Analysts Feel About Matthews International Corp After Reaching 52 Week High?

The stock of Matthews International Corp (NASDAQ:MATW) hit a new 52-week high and has $79.70 target or 8.00% above today’s $73.80 share price. The 5 months bullish chart indicates low risk for the $2.40 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $79.70 price target is reached, the company will be worth $192.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 75,287 shares traded hands. Matthews International Corp (NASDAQ:MATW) has risen 42.84% since April 25, 2016 and is uptrending. It has outperformed by 36.83% the S&P500.

Analysts await Matthews International Corp (NASDAQ:MATW) to report earnings on January, 26.

Matthews International Corp (NASDAQ:MATW) Ratings Coverage

Out of 2 analysts covering Matthews International (NASDAQ:MATW), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Matthews International has been the topic of 5 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Wunderlich on Friday, July 29. The firm has “Neutral” rating given on Thursday, September 22 by Macquarie Research. On Wednesday, November 4 the stock rating was downgraded by Macquarie Research to “Neutral”. The stock has “Buy” rating given by Wunderlich on Monday, November 21.

According to Zacks Investment Research, “Matthews International Corporation is a designer, manufacturer and marketer principally of memorialization products & brand solutions. Memorialization products consist primarily of bronze memorials and other memorialization products, caskets and cremation equipment for the cemetery & funeral home industries. Brand solutions include graphics imaging products & services, marking products, & merchandising solutions. The Company’s products & services include cast bronze memorials & other memorialization products; caskets; cast & etched architectural products; cremation equipment & cremation- related products; mausoleums; brand management, printing plates, pre-press services, & imaging systems for the primary packaging & corrugated industries; marking equipment & consumables, & industrial automation products for identifying, tracking & conveying various consumer & industrial products, components & packaging containers; & merchandising display systems and marketing & design services.”

Insitutional Activity: The institutional sentiment increased to 1.55 in Q2 2016. Its up 0.58, from 0.97 in 2016Q1. The ratio is positive, as 9 funds sold all Matthews International Corp shares owned while 49 reduced positions. 10 funds bought stakes while 46 increased positions. They now own 25.53 million shares or 1.01% more from 25.27 million shares in 2016Q1.
California State Teachers Retirement System holds 0.01% or 67,150 shares in its portfolio. The United Kingdom-based Legal & General Gru Public Limited has invested 0% in Matthews International Corp (NASDAQ:MATW). Art Advisors Lc has 5,950 shares for 0.02% of their US portfolio. Jfs Wealth Advisors Limited, a Pennsylvania-based fund reported 1,250 shares. The France-based Credit Agricole S A has invested 0.01% in Matthews International Corp (NASDAQ:MATW). Bnp Paribas Arbitrage Sa, a New York-based fund reported 10,156 shares. The Michigan-based Comerica Financial Bank has invested 0.02% in Matthews International Corp (NASDAQ:MATW). The Illinois-based Prudential Public Limited Co has invested 0.02% in Matthews International Corp (NASDAQ:MATW). Schroder Inv Mgmt Group Incorporated, a Maine-based fund reported 410,400 shares. Sector Pension Investment Board holds 0.01% or 23,120 shares in its portfolio. The Pennsylvania-based Emerald Advisers Pa has invested 1.26% in Matthews International Corp (NASDAQ:MATW). Blackrock Fund holds 0.02% or 2.03 million shares in its portfolio. Nj State Employees Deferred Compensation Plan last reported 0.3% of its portfolio in the stock. Deutsche Commercial Bank Ag has 0% invested in the company for 46,188 shares. Geode Capital Management Ltd Liability last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 9 sales for $7.54 million net activity. DUNN BRIAN J had sold 13,333 shares worth $723,315. Jensen Paul C. sold $79,173 worth of Matthews International Corp (NASDAQ:MATW) on Monday, August 1. Shares for $2.60 million were sold by BARTOLACCI JOSEPH C on Monday, June 6. RAHILL PAUL F sold $284,066 worth of stock or 4,666 shares. The insider NICOLA STEVEN F sold 21,728 shares worth $1.19M. Shares for $909,526 were sold by SCHAWK DAVID A on Friday, August 12. $176,529 worth of shares were sold by BECK DAVID F on Wednesday, June 8.

More news for Matthews International Corp (NASDAQ:MATW) were recently published by: Marketwatch.com, which released: “Matthews International stock price target raised to $75 from $65 at Wunderlich …” on December 21, 2009. Post-Gazette.com‘s article titled: “Pittsburgh based Matthews International Corp merging with Schawk Inc.” and published on March 17, 2014 is yet another important article.

MATW Company Profile

Matthews International Corporation, incorporated in 1902, is a well-known provider of brand solutions, memorialization products and industrial products. The Firm operates through three divisions: SGK Brand Solutions, Memorialization and Industrial. The SGK Brand Solutions segment consists of the graphics imaging business, including Schawk, and the merchandising solutions operations. The Memorialization segment consists of the Company’s cemetery products, funeral home products and cremation operations. The Industrial segment consists of the Company’s marking and automation products, and fulfillment systems. Products and services of the SGK Brand Solutions segment are sold throughout the world, with principal locations in the United States, Europe and Asia. Memorialization segment products are sold throughout the world, with the segment’s principal activities located in the United States, Europe, Canada and Australia.

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