DA Davidson Increases Matrix Service Price Target to $25.00 (MTRX)
Stock analysts at DA Davidson boosted their price objective on shares of Matrix Service (NASDAQ:MTRX) from $21.00 to $25.00 in a report issued on Thursday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 30.62% from the stock’s previous close.
In other Matrix Service news, Director Tom Maxwell unloaded 6,871 shares of the stock on the open market in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $17.90, for a total value of $122,990.90. Following the transaction, the director now directly owns 38,329 shares in the company, valued at approximately $686,089. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Matrix Service (NASDAQ:MTRX) traded down 1.49% on Thursday, hitting $19.14. The stock had a trading volume of 273,015 shares. Matrix Service has a 1-year low of $10.05 and a 1-year high of $19.97. The stock has a 50-day moving average of $17.27 and a 200-day moving average of $16.24. The company has a market cap of $499.8 million and a P/E ratio of 21.35.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, September 3rd. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $235.60 million for the quarter, compared to the consensus estimate of $226.63 million. During the same quarter last year, the company posted $0.07 earnings per share. Matrix Service’s revenue was up 27.4% compared to the same quarter last year. Analysts expect that Matrix Service will post $1.13 EPS for the current fiscal year.
Separately, analysts at First Analysis downgraded shares of Matrix Service (NASDAQ:MTRX) from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Matrix Service presently has a consensus rating of “Buy” and a consensus target price of $21.50.
Matrix Service Company provides engineering, fabrication, construction and maintenance services primarily to oil, gas, power, petrochemical, industrial and mining and minerals markets.
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