Matthews International Corp (MATW) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 75 from a previous price target of $65 . Wunderlich advised their investors in a research report released on Jul 29, 2016.
On the company’s financial health, Matthews International Corp reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.92. The company had revenue of $382.06 million for the quarter, compared to analysts expectations of $385.34 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.
Matthews International Corp closed down -0.36 points or -0.59% at $60.61 with 1,29,522 shares getting traded on Thursday. Post opening the session at $60.6, the shares hit an intraday low of $59.63 and an intraday high of $60.91 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 16, 2016, Brian J Dunn (EVP, Strategy and Corp. Develo) sold 13,333 shares at $54.25 per share price. According to the SEC, on Jun 9, 2016, David F Beck (VP and President) sold 3,167 shares at $55.74 per share price. On Jun 8, 2016, Steven F Nicola (CFO and Secretary) sold 21,728 shares at $54.86 per share price, according to the Form-4 filing with the securities and exchange commission.
Matthews International Corporation is a designer manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products Funeral Home Products Cremation Graphics Imaging Marking and Fulfillment Systems and Merchandising Solutions. The Cemetery Products segment manufactures cast bronze and granite memorials and other memorialization products cast and etched architectural products and is a builder of mausoleums in the United States. The Funeral Home Products segment manufactures caskets distributes and produces wood metal and cremation caskets. The Cremation segment is a designer and manufacturer of cremation equipment in North America and Europe. The Graphics Imaging segment manufactures and provides brand solutions printing plates gravure cylinders pre-press services and imaging services for the packaging and corrugated industries.