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Analysts at Stifel Nicolaus began coverage on shares of Matrix Service (NASDAQ:MTRX) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Several other analysts have also 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.67.

In other Matrix Service news, Insider James Ryan unloaded 7,500 shares of the stock 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 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.

Matrix Service (NASDAQ:MTRX) opened at 32.08 on Friday. Matrix Service has a 52-week low of $15.25 and a 52-week high of $35.34. The stock has a 50-day moving average of $32.01 and a 200-day moving average of $28.63. The company has a market cap of $847.3 million and a price-to-earnings ratio of 24.26.

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. On average, analysts predict that Matrix Service will post $1.41 earnings per share for the current fiscal year.

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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