BidaskClub lowered shares of Matrix Service (NASDAQ:MTRX) from a strong-buy rating to a buy rating in a research note published on Saturday.

Several other research firms also recently issued reports on MTRX. Zacks Investment Research upgraded shares of Matrix Service from a sell rating to a hold rating and set a $18.00 price objective for the company in a research note on Tuesday, November 14th. ValuEngine downgraded shares of Matrix Service from a hold rating to a sell rating in a research note on Tuesday, September 12th. Finally, TheStreet upgraded shares of Matrix Service from a d+ rating to a c- rating in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $18.00.

Shares of Matrix Service (MTRX) opened at $18.05 on Friday. 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 52 week low of $7.80 and a 52 week high of $23.10. The stock has a market cap of $478.80, a P/E ratio of -82.05 and a beta of 0.85.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Matrix Service’s revenue for the quarter was down 21.0% on a year-over-year basis. sell-side analysts predict that Matrix Service will post 0.69 EPS 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 that occurred on 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 directly owns 283,529 shares in the company, valued at $5,007,122.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System boosted its stake in shares of Matrix Service by 19.9% in the third quarter. California Public Employees Retirement System now owns 146,650 shares of the oil and gas company’s stock valued at $2,229,000 after purchasing an additional 24,350 shares during the period. 22NW LP boosted its stake in shares of Matrix Service by 41.4% in the third quarter. 22NW LP now owns 166,600 shares of the oil and gas company’s stock valued at $2,532,000 after purchasing an additional 48,800 shares during the period. Royce & Associates LP boosted its stake in shares of Matrix Service by 0.9% in the third quarter. Royce & Associates LP now owns 1,021,428 shares of the oil and gas company’s stock valued at $15,526,000 after purchasing an additional 8,700 shares during the period. Shufro Rose & Co. LLC purchased a new position in shares of Matrix Service in the third quarter valued at $4,610,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Matrix Service in the third quarter valued at $185,000. Institutional investors and hedge funds own 88.28% of the company’s stock.

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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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