Matrix Service (MTRX) Downgraded by BidaskClub

Matrix Service (NASDAQ:MTRX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently commented on MTRX. Zacks Investment Research raised Matrix Service from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Tuesday, November 14th. TheStreet raised Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Matrix Service has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of Matrix Service (MTRX) traded down $0.10 during trading hours on Wednesday, hitting $18.40. The stock had a trading volume of 98,417 shares, compared to its average volume of 175,505. The stock has a market capitalization of $494.85, a P/E ratio of -83.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.72 and a current ratio of 1.74. Matrix Service has a twelve month low of $7.80 and a twelve month high of $23.10.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.08. The business had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. The business’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share. research analysts forecast that Matrix Service will post 0.69 earnings per share for the current year.

In other Matrix Service news, CEO John R. Hewitt sold 5,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was 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 of the company’s stock, valued at $5,007,122.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of MTRX. Legal & General Group Plc grew its position in Matrix Service by 8.7% during the second quarter. Legal & General Group Plc now owns 49,483 shares of the oil and gas company’s stock valued at $463,000 after acquiring an additional 3,981 shares during the period. Alliancebernstein L.P. grew its position in Matrix Service by 5.6% during the second quarter. Alliancebernstein L.P. now owns 39,800 shares of the oil and gas company’s stock valued at $372,000 after acquiring an additional 2,100 shares during the period. Ameriprise Financial Inc. grew its position in Matrix Service by 38.3% during the second quarter. Ameriprise Financial Inc. now owns 470,885 shares of the oil and gas company’s stock valued at $4,401,000 after acquiring an additional 130,390 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Matrix Service by 352.3% during the second quarter. Thrivent Financial For Lutherans now owns 68,247 shares of the oil and gas company’s stock worth $638,000 after purchasing an additional 53,157 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Matrix Service by 1.9% during the second quarter. Mutual of America Capital Management LLC now owns 78,497 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 1,486 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/28/matrix-service-mtrx-downgraded-by-bidaskclub.html.

Matrix Service 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.

Receive News & Ratings for Matrix Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply