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Matrix Service (NASDAQ:MTRX) was downgraded by research analysts at Jefferson Research from a “buy” rating to a “hold” rating in a report released on Friday, ARN reports.

Matrix Service (NASDAQ:MTRX) traded down 0.42% during mid-day trading on Friday, hitting $29.925. 79,330 shares of the company’s stock traded hands. Matrix Service has a 52-week low of $12.52 and a 52-week high of $32.92. The stock has a 50-day moving average of $26. and a 200-day moving average of $21.04. The company has a market cap of $788.3 million and a P/E ratio of 26.13.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 40.5% on a year-over-year basis. On average, analysts predict that Matrix Service will post $1.24 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. 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. 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Matrix Service currently has a consensus rating of “Buy” and a consensus price target of $27.50.

In other Matrix Service news, CFO Kevin Cavanah unloaded 5,291 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $30.35, for a total value of $160,581.85. Following the completion of the sale, the chief financial officer now directly owns 53,584 shares of the company’s stock, valued at approximately $1,626,274. The sale was disclosed in a filing with the SEC, which is available at this link.

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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