Matrix Service Company (NASDAQ:MTRX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “MATRIX SERVICE CO. provides specialized on-site maintenance and construction services for petroleum refining and storage facilities and water storage tanks and systems for the municipal and private industry sector. Owners of these facilities use the Company’s services in an effort to improve operating efficiencies and to comply with stringent environmental and safety regulations. Through its subsidiaries Matrix Service, Inc., San Luis Tank Piping Construction Co., Inc., and an affiliated company West Coast Industrial Coatings, Inc., Heath Engineering, Ltd. “

A number of other equities research analysts also recently commented on the company. ValuEngine downgraded Matrix Service Company from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet downgraded Matrix Service Company from a “c-” rating to a “d+” rating in a report on Wednesday, May 24th. Finally, Stephens reiterated a “hold” rating on shares of Matrix Service Company in a report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Shares of Matrix Service Company (NASDAQ:MTRX) traded up 0.53% during trading on Wednesday, reaching $9.40. The company had a trading volume of 355,699 shares. The firm has a market capitalization of $250.04 million, a P/E ratio of 25.34 and a beta of 0.73. The company has a 50 day moving average of $8.63 and a 200-day moving average of $15.77. Matrix Service Company has a 52-week low of $7.80 and a 52-week high of $23.45.

Matrix Service Company (NASDAQ:MTRX) last released its quarterly earnings data on Tuesday, May 9th. The oil and gas company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.66. The company had revenue of $251.20 million during the quarter, compared to the consensus estimate of $248.51 million. Matrix Service Company had a net margin of 0.78% and a return on equity of 3.07%. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 EPS. Equities analysts expect that Matrix Service Company will post ($0.01) earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its stake in Matrix Service Company by 1.7% in the second quarter. Capstone Asset Management Co. now owns 13,623 shares of the oil and gas company’s stock worth $127,000 after buying an additional 230 shares in the last quarter. Smith Graham & Co. Investment Advisors LP increased its stake in Matrix Service Company by 95.5% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 904,271 shares of the oil and gas company’s stock worth $8,455,000 after buying an additional 441,659 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Matrix Service Company by 13.5% in the first quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the oil and gas company’s stock worth $378,000 after buying an additional 2,724 shares in the last quarter. AQR Capital Management LLC increased its stake in Matrix Service Company by 18.6% in the first quarter. AQR Capital Management LLC now owns 373,436 shares of the oil and gas company’s stock worth $6,162,000 after buying an additional 58,558 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Matrix Service Company during the first quarter worth approximately $275,000. Institutional investors and hedge funds own 89.13% of the company’s stock.

Matrix Service Company Company Profile

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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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