Matrix Service Co. (MTRX) Given Average Rating of “Buy” by Analysts
Shares of Matrix Service Co. (NASDAQ:MTRX) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $25.00.
Several brokerages recently issued reports on MTRX. TheStreet upgraded Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. DA Davidson reiterated a “buy” rating and issued a $20.00 price target on shares of Matrix Service in a report on Friday, August 26th. Finally, Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th.
Matrix Service (NASDAQ:MTRX) traded down 0.58% during trading on Thursday, hitting $18.70. The stock had a trading volume of 39,351 shares. The firm has a market cap of $495.92 million, a P/E ratio of 17.48 and a beta of 1.52. Matrix Service has a 12-month low of $14.07 and a 12-month high of $25.07. The stock’s 50 day moving average price is $18.29 and its 200 day moving average price is $17.30.
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Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The firm earned $359.60 million during the quarter. During the same quarter in the prior year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate that Matrix Service will post $1.25 EPS for the current fiscal year.
In other news, insider James P. Ryan sold 2,150 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $19.01, for a total transaction of $40,871.50. Following the completion of the sale, the insider now directly owns 91,907 shares in the company, valued at $1,747,152.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Justin D. Sheets sold 2,100 shares of the firm’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $18.71, for a total value of $39,291.00. Following the sale, the vice president now owns 13,979 shares of the company’s stock, valued at $261,547.09. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in MTRX. Nisa Investment Advisors L.L.C. increased its stake in shares of Matrix Service by 34.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 30,200 shares of the company’s stock valued at $535,000 after buying an additional 7,700 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Matrix Service by 3.7% in the first quarter. Teachers Advisors Inc. now owns 463,841 shares of the company’s stock valued at $8,210,000 after buying an additional 16,615 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Matrix Service by 0.5% in the first quarter. BlackRock Fund Advisors now owns 1,828,537 shares of the company’s stock valued at $32,365,000 after buying an additional 9,072 shares in the last quarter. Menta Capital LLC increased its stake in shares of Matrix Service by 62.9% in the first quarter. Menta Capital LLC now owns 41,165 shares of the company’s stock valued at $729,000 after buying an additional 15,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Matrix Service by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 57,352 shares of the company’s stock valued at $1,015,000 after buying an additional 11,827 shares in the last quarter. Institutional investors own 91.96% of the company’s stock.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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