Insider Selling: James P. Ryan Sells 7,500 Shares of Matrix Service Stock (MTRX)
Matrix Service (NASDAQ:MTRX) Insider James P. Ryan sold 7,500 shares of Matrix Service stock on the open market in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $32.97, for a total value of $247,275.00. Following the completion of the sale, the insider now directly owns 69,214 shares in the company, valued at approximately $2,281,986. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Matrix Service (NASDAQ:MTRX) traded up 0.27% during mid-day trading on Friday, hitting $33.06. The stock had a trading volume of 98,050 shares. Matrix Service has a one year low of $15.25 and a one year high of $35.34. The stock has a 50-day moving average of $32.22 and a 200-day moving average of $28.23. The company has a market cap of $873.2 million and a price-to-earnings ratio of 24.79.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.08. The company had revenue of $381.50 million for the quarter, compared to the consensus estimate of $343.53 million. During the same quarter last year, the company posted $0.25 earnings per share. Matrix Service’s revenue was up 68.8% compared to the same quarter last year. Analysts expect that Matrix Service will post $1.41 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Davidson raised their price target on shares of Matrix Service from $36.00 to $40.00 in a research note on Monday, May 12th. Separately, analysts at Johnson Rice upgraded shares of Matrix Service from an “equal weight” rating to an “overweight” rating in a research note on Friday, May 9th. Finally, analysts at DA Davidson reiterated a “buy” rating on shares of Matrix Service in a research note on Friday, May 9th. They now have a $36.00 price target on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $34.67.
Matrix Service Company provide engineering, fabrication, construction and maintenance services primarily to oil, gas, power, petrochemical, industrial and mining and minerals markets.
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