Matrix Service (MTRX) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Matrix Service (NASDAQ:MTRX) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Matrix Service from a sell rating to a hold rating in a report on Tuesday, May 14th. BidaskClub downgraded shares of Matrix Service from a buy rating to a hold rating in a report on Saturday, March 30th. Finally, DA Davidson started coverage on shares of Matrix Service in a report on Wednesday, March 13th. They issued a neutral rating and a $22.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $36.67.

Matrix Service stock opened at $18.93 on Thursday. Matrix Service has a fifty-two week low of $15.43 and a fifty-two week high of $25.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.43 and a quick ratio of 1.40. The company has a market capitalization of $507.46 million, a P/E ratio of 126.20 and a beta of 1.07.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The firm had revenue of $358.89 million during the quarter, compared to the consensus estimate of $347.85 million. During the same quarter last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 46.1% on a year-over-year basis. On average, sell-side analysts expect that Matrix Service will post 0.97 EPS for the current year.

In other Matrix Service news, VP Rick J. Bennett sold 1,920 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $21.00, for a total value of $40,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin S. Cavanah sold 14,505 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total transaction of $306,780.75. The disclosure for this sale can be found here. Insiders sold a total of 21,250 shares of company stock valued at $452,087 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. boosted its position in Matrix Service by 167.9% in the 4th quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 900 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Matrix Service by 2,694.8% during the 4th quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 1,563 shares during the last quarter. Investors Research Corp purchased a new stake in shares of Matrix Service during the 1st quarter worth $63,000. SEI Investments Co lifted its position in shares of Matrix Service by 40.8% during the 1st quarter. SEI Investments Co now owns 4,130 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 1,196 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Matrix Service by 232.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 3,851 shares during the last quarter. 95.66% 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, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

Further Reading: Debt-To-Equity Ratio

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