Matrix Service (NASDAQ:MTRX) Rating Increased to Buy at StockNews.com

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

Separately, DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a research note on Thursday, September 26th.

Matrix Service Price Performance

Shares of MTRX stock opened at $13.30 on Wednesday. The company has a 50 day moving average of $11.92 and a 200-day moving average of $10.79. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90. The firm has a market cap of $366.55 million, a P/E ratio of -11.87 and a beta of 1.25.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share 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 quarter in the prior year, the firm posted ($0.21) earnings per share. As a group, equities analysts expect that Matrix Service will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MTRX. Quarry LP bought a new position in Matrix Service in the 3rd quarter valued at $53,000. Quest Partners LLC bought a new position in Matrix Service in the 2nd quarter valued at $83,000. BNP Paribas Financial Markets boosted its holdings in Matrix Service by 112.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the period. SG Americas Securities LLC bought a new position in Matrix Service in the 3rd quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company bought a new position in Matrix Service in the 2nd quarter valued at $110,000. 78.38% of the stock is owned by institutional investors.

Matrix Service Company Profile

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.