Matrix Service Company (NASDAQ:MTRX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research firms have also recently issued reports on MTRX. Zacks Investment Research cut Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. ValuEngine cut Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stephens reissued a “hold” rating on shares of Matrix Service in a research note on Monday, May 15th. Finally, TheStreet cut Matrix Service from a “c-” rating to a “d+” rating in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Matrix Service presently has a consensus rating of “Hold” and an average target price of $20.00.

Matrix Service (NASDAQ:MTRX) opened at 10.05 on Friday. The company has a market capitalization of $267.33 million, a PE ratio of 27.09 and a beta of 0.75. Matrix Service has a one year low of $7.80 and a one year high of $23.45. The company has a 50 day moving average price of $9.68 and a 200-day moving average price of $13.18.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Tuesday, May 9th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.66. Matrix Service had a net margin of 0.78% and a return on equity of 3.07%. The business had revenue of $251.20 million for the quarter, compared to analysts’ expectations of $248.51 million. During the same period last year, the firm posted $0.16 earnings per share. Matrix Service’s quarterly revenue was down 18.8% on a year-over-year basis. Analysts expect that Matrix Service will post ($0.01) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Matrix Service by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company’s stock valued at $21,022,000 after buying an additional 195,754 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Matrix Service by 100.0% in the second quarter. Parametric Portfolio Associates LLC now owns 257,435 shares of the oil and gas company’s stock valued at $2,407,000 after buying an additional 128,725 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Matrix Service by 138.2% in the second quarter. Nordea Investment Management AB now owns 227,001 shares of the oil and gas company’s stock valued at $2,122,000 after buying an additional 131,700 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Matrix Service by 20.5% in the second quarter. California Public Employees Retirement System now owns 122,300 shares of the oil and gas company’s stock valued at $1,144,000 after buying an additional 20,800 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Matrix Service by 6.1% in the second quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock valued at $13,953,000 after buying an additional 86,259 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

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.

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