Matrix Service (NASDAQ:MTRX) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

MTRX has been the subject of a number of other reports. Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research note on Tuesday, November 14th. ValuEngine lowered shares of Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Matrix Service currently has an average rating of “Hold” and an average price target of $18.00.

Matrix Service (MTRX) traded down $0.10 during mid-day trading on Friday, hitting $17.90. 178,409 shares of the company were exchanged, compared to its average volume of 232,357. Matrix Service has a 52-week low of $7.80 and a 52-week high of $23.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.72 and a current ratio of 1.74. The stock has a market cap of $476.14, a PE ratio of -81.36 and a beta of 0.85.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. The firm had revenue of $269.91 million during the quarter, compared to analysts’ expectations of $290.56 million. During the same period in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. equities research analysts predict that Matrix Service will post 0.69 earnings per share for the current fiscal year.

In related news, CEO John R. Hewitt sold 5,000 shares of Matrix Service stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $17.66, for a total transaction of $88,300.00. Following the completion of the sale, the chief executive officer now owns 283,529 shares in the company, valued at approximately $5,007,122.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MTRX. Legal & General Group Plc lifted its holdings in Matrix Service by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 49,483 shares of the oil and gas company’s stock valued at $463,000 after buying an additional 3,981 shares in the last quarter. Systematic Financial Management LP bought a new stake in Matrix Service during the 2nd quarter valued at about $1,531,000. Alliancebernstein L.P. lifted its holdings in Matrix Service by 5.6% during the 2nd quarter. Alliancebernstein L.P. now owns 39,800 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 2,100 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Matrix Service by 38.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 470,885 shares of the oil and gas company’s stock valued at $4,401,000 after buying an additional 130,390 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Matrix Service by 352.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 68,247 shares of the oil and gas company’s stock valued at $638,000 after buying an additional 53,157 shares in the last quarter. Institutional investors own 88.28% of the company’s stock.

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

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