MATX Stock Summary and Trading Ideas (Matson | NYSE:MATX)

Matson Inc is engaged in providing ocean transportation and logistics services. The business segments of the company are Ocean Transportation which provides ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, California, Okinawa, and different islands in the South Pacific, and Logistics segment which offers long haul and regional highway trucking services, warehousing and distribution services, supply chain management, and freight forwarding services. The firm generates the majority of its revenue from Ocean Transportation segment.

Matson trades on the NYSE stock market under the symbol MATX.

As of April 24, 2024, MATX stock price climbed to $108.23 with 196,849 million shares trading.

MATX has a beta of 0.58, meaning it tends to be less sensitive to market movements. MATX has a correlation of 0.07 to the broad based SPY ETF.

MATX has a market cap of $3.73 billion. This is considered a Mid Cap stock.

Last quarter Matson reported $789 million in Revenue and $1.78 earnings per share. This beat revenue expectation by $55 million and exceeded earnings estimates by $.27.

In the last 3 years, MATX stock traded as high as $125.34 and as low as $56.51.

The top ETF exchange traded funds that MATX belongs to (by Net Assets): IJR, VTI, VB, IWM, AVUV.

MATX has outperformed the market in the last year with a price return of +67.4% while the SPY ETF gained +24.2%. However, in the short term, MATX had mixed performance relative to the market. It has underperformed in the last 3 months, returning -8.4% vs +4.6% return in SPY. But in the last 2 weeks, MATX shares have fared better than the market returning -1.1% compared to SPY -2.7%.

MATX support price is $105.91 and resistance is $110.36 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MATX stock will trade within this expected range on the day.