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Matrix Service (NASDAQ:MTRX) reached a new 52-week high during mid-day trading on Tuesday , American Banking News.com reports. The company traded as high as $36.02 and last traded at $35.76, with a volume of 378,409 shares. The stock had previously closed at $33.31.

Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Matrix Service in a research note on Friday, May 30th. They set a “buy” rating and a $39.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Matrix Service has an average rating of “Buy” and an average target price of $35.75.

The stock’s 50-day moving average is $32.06 and its 200-day moving average is $29.27. The company has a market cap of $941.9 million and a price-to-earnings ratio of 25.05.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Thursday, May 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 68.8% on a year-over-year basis. Analysts expect that Matrix Service will post $1.42 EPS for the current fiscal year.

In other Matrix Service news, Insider James P. Ryan sold 11,000 shares of the company’s stock on the open market in a transaction dated Friday, May 30th. The stock was sold at an average price of $32.63, for a total transaction of $358,930.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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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