Matrix Service (NASDAQ:MTRX) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Matrix Service (NASDAQ:MTRX) from a buy rating to a hold rating in a research report sent to investors on Friday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Zogenix from a buy rating to a strong-buy rating in a report on Saturday, March 30th. Zacks Investment Research cut Gold Resource from a hold rating to a sell rating in a report on Friday, June 21st.

NASDAQ MTRX opened at $19.19 on Friday. 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 stock’s 50 day simple moving average is $19.45. Matrix Service has a 12-month low of $15.43 and a 12-month high of $25.75. The firm has a market cap of $526.49 million, a PE ratio of 127.93 and a beta of 1.11.

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

In related news, Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.25, for a total value of $40,606.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kevin S. Cavanah sold 14,505 shares of the company’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 value of $306,780.75. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its stake 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 in the last quarter. Advisors Asset Management Inc. lifted its stake in Matrix Service by 75.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,840 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 1,219 shares in the last quarter. Investors Research Corp purchased a new stake in Matrix Service in the 1st quarter valued at approximately $63,000. BNP Paribas Arbitrage SA lifted its stake in Matrix Service by 232.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 3,851 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Matrix Service in the 4th quarter valued at approximately $139,000. 93.55% of the stock is currently owned by hedge funds and other 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, 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.

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