Matrix Service Rating Increased to Buy at Thomson Reuters/Verus (MTRX)
Matrix Service (NASDAQ:MTRX) was upgraded by Thomson Reuters/Verus from a “hold” rating to a “buy” rating in a research note issued on Monday, Analyst Ratings Net reports.
Shares of Matrix Service (NASDAQ:MTRX) traded down 1.79% during mid-day trading on Monday, hitting $19.16. 119,823 shares of the company’s stock traded hands. Matrix Service has a one year low of $10.05 and a one year high of $19.97. The stock’s 50-day moving average is $17.38 and its 200-day moving average is $16.27. The company has a market cap of $500.3 million and a P/E ratio of 21.44.
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.
Other equities research analysts have also recently issued reports about the stock. Analysts at DA Davidson raised their price target on shares of Matrix Service from $21.00 to $25.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Analysts at First Analysis downgraded shares of Matrix Service from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target 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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