Matrix Service Co. (MTRX) Stock Rating Upgraded by TheStreet
Matrix Service Co. (NASDAQ:MTRX) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other research firms have also weighed in on MTRX. Zacks Investment Research raised shares of Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Matrix Service in a report on Friday, August 26th. Finally, Barclays PLC cut their target price on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, June 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Matrix Service has a consensus rating of “Buy” and an average price target of $24.33.
Matrix Service (NASDAQ:MTRX) opened at 18.13 on Friday. The company has a market cap of $480.81 million, a price-to-earnings ratio of 16.94 and a beta of 1.66. The firm’s 50-day moving average is $17.66 and its 200 day moving average is $17.27. Matrix Service has a 52-week low of $14.07 and a 52-week high of $26.22.
Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Matrix Service had a net margin of 2.20% and a return on equity of 10.47%. The company earned $359.60 million during the quarter. During the same period in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Matrix Service will post $1.26 EPS for the current fiscal year.
In related news, insider James P. Ryan sold 2,150 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $19.01, for a total value of $40,871.50. Following the completion of the sale, the insider now owns 91,907 shares of the company’s stock, valued at approximately $1,747,152.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James P. Ryan sold 5,416 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $18.30, for a total transaction of $99,112.80. Following the completion of the sale, the insider now directly owns 84,541 shares of the company’s stock, valued at approximately $1,547,100.30. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Matrix Service by 93.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,641 shares of the company’s stock valued at $142,000 after buying an additional 4,168 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Matrix Service during the second quarter valued at approximately $180,000. BlackRock Inc. raised its stake in shares of Matrix Service by 545.5% in the second quarter. BlackRock Inc. now owns 11,961 shares of the company’s stock valued at $197,000 after buying an additional 10,108 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Matrix Service by 5.2% in the second quarter. Thrivent Financial for Lutherans now owns 12,980 shares of the company’s stock valued at $214,000 after buying an additional 640 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Matrix Service by 0.7% in the second quarter. Arizona State Retirement System now owns 13,848 shares of the company’s stock valued at $228,000 after buying an additional 100 shares during the last quarter. 92.77% of the stock is owned by institutional investors.
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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