B. Riley Lowers Matthews International (NASDAQ:MATW) Price Target to $40.00

Matthews International (NASDAQ:MATW) had its target price dropped by research analysts at B. Riley from $54.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 74.14% from the company’s previous close.

Matthews International Price Performance

MATW stock opened at $22.97 on Thursday. The stock has a market cap of $705.41 million, a PE ratio of 21.67 and a beta of 1.08. Matthews International has a 12 month low of $22.47 and a 12 month high of $40.80. The company has a 50-day moving average price of $25.20 and a 200 day moving average price of $26.61. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). Matthews International had a net margin of 1.43% and a return on equity of 15.79%. The business had revenue of $427.83 million for the quarter, compared to analysts’ expectations of $450.03 million. During the same quarter last year, the firm earned $0.74 EPS. Equities research analysts anticipate that Matthews International will post 2.53 earnings per share for the current year.

Institutional Investors Weigh In On Matthews International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of Matthews International during the second quarter worth approximately $49,000. nVerses Capital LLC purchased a new position in Matthews International during the 2nd quarter worth $110,000. SG Americas Securities LLC bought a new stake in Matthews International during the 2nd quarter valued at $112,000. XTX Topco Ltd purchased a new stake in shares of Matthews International in the 2nd quarter worth $246,000. Finally, D.A. Davidson & CO. grew its position in shares of Matthews International by 108.3% during the 4th quarter. D.A. Davidson & CO. now owns 11,290 shares of the company’s stock worth $414,000 after buying an additional 5,870 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.