Insider Selling: Joseph F. Montalbano Unloads 21,709 Shares of Matrix Service Stock (MTRX)
Matrix Service (NASDAQ:MTRX) COO Joseph F. Montalbano sold 21,709 shares of Matrix Service stock on the open market in a transaction dated Thursday, February 13th. The stock was sold at an average price of $30.01, for a total transaction of $651,487.09. Following the completion of the transaction, the chief operating officer now directly owns 58,278 shares of the company’s stock, valued at approximately $1,748,923. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Matrix Service (NASDAQ:MTRX) traded up 0.27% on Friday, hitting $30.13. The stock had a trading volume of 290,967 shares. Matrix Service has a 52-week low of $12.52 and a 52-week high of $32.92. The stock’s 50-day moving average is $26.65 and its 200-day moving average is $21.14. The company has a market cap of $793.7 million and a P/E ratio of 26.13.
Matrix Service (NASDAQ:MTRX) last released its earnings data on Thursday, February 6th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.11. The company had revenue of $311.00 million for the quarter, compared to the consensus estimate of $245.25 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 40.5% on a year-over-year basis. Analysts expect that Matrix Service will post $1.24 EPS for the current fiscal year.
A number of research firms have recently commented on MTRX. Analysts at Jefferson Research downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at Zacks upgraded shares of Matrix Service from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 16th. They now have a $28.00 price target on the stock. Finally, analysts at DA Davidson raised their price target on shares of Matrix Service from $26.00 to $27.00 in a research note on Tuesday, December 10th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Matrix Service currently has a consensus rating of “Buy” and an average target price of $27.50.
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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