Matrix Service’s (MTRX) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Matrix Service (NASDAQ:MTRX) in a report issued on Friday,Benzinga reports. The firm currently has a $17.00 price target on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Matrix Service has a consensus rating of “Hold” and an average target price of $17.00.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $11.06 on Friday. The stock has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $13.27. The stock has a market capitalization of $311.12 million, a P/E ratio of -16.26, a PEG ratio of 1.89 and a beta of 0.95. Matrix Service has a 1 year low of $9.33 and a 1 year high of $16.10.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. The business had revenue of $210.51 million during the quarter, compared to analysts’ expectations of $215.42 million. Analysts predict that Matrix Service will post -0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn P. Payne sold 8,250 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $12.58, for a total transaction of $103,785.00. Following the completion of the sale, the insider directly owned 110,429 shares in the company, valued at $1,389,196.82. This trade represents a 6.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 16,500 shares of company stock valued at $198,000. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Matrix Service

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Matrix Service during the third quarter worth approximately $28,000. BNP Paribas Financial Markets boosted its stake in Matrix Service by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Matrix Service by 133.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Matrix Service during the 3rd quarter worth $67,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Matrix Service in the 4th quarter worth about $78,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.