Matrix Service (NASDAQ:MTRX) Upgraded at StockNews.com

StockNews.com upgraded shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Separately, DA Davidson reaffirmed a “buy” rating and issued a $18.00 price target on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Price Performance

Shares of MTRX stock opened at $13.26 on Wednesday. The company’s fifty day moving average price is $12.01 and its two-hundred day moving average price is $10.82. The firm has a market capitalization of $365.38 million, a P/E ratio of -11.84 and a beta of 1.25. Matrix Service has a 12 month low of $8.61 and a 12 month high of $13.90.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. The business had revenue of $165.58 million during the quarter, compared to analysts’ expectations of $183.90 million. During the same period in the prior year, the company posted ($0.21) EPS. On average, sell-side analysts anticipate that Matrix Service will post -0.04 EPS for the current year.

Institutional Trading of Matrix Service

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC increased its holdings in shares of Matrix Service by 92.0% in the 1st quarter. Jane Street Group LLC now owns 308,743 shares of the company’s stock valued at $4,023,000 after acquiring an additional 147,942 shares during the last quarter. Azarias Capital Management L.P. boosted its holdings in Matrix Service by 28.5% in the second quarter. Azarias Capital Management L.P. now owns 1,273,193 shares of the company’s stock worth $12,643,000 after purchasing an additional 282,086 shares during the period. Bank of New York Mellon Corp increased its stake in Matrix Service by 12.9% during the second quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company’s stock valued at $5,714,000 after purchasing an additional 65,902 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Matrix Service during the second quarter worth $830,000. Finally, Royce & Associates LP lifted its position in shares of Matrix Service by 14.3% in the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock worth $9,953,000 after buying an additional 107,820 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.