Matrix Service (NASDAQ:MTRX) Cut to Sell at ValuEngine

Matrix Service (NASDAQ:MTRX) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Several other brokerages have also issued reports on MTRX. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. BidaskClub lowered Matrix Service from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th.

Shares of MTRX traded down $0.34 during trading hours on Thursday, reaching $18.33. The stock had a trading volume of 76,250 shares, compared to its average volume of 92,235. Matrix Service has a 12 month low of $15.43 and a 12 month high of $25.75. The company has a market cap of $492.45 million, a PE ratio of 122.20 and a beta of 1.05. 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 has a 50-day moving average price of $19.29.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The company had revenue of $358.89 million during the quarter, compared to analysts’ expectations of $347.85 million. During the same period in the prior year, the company earned ($0.19) EPS. Matrix Service’s revenue was up 46.1% compared to the same quarter last year. On average, research analysts predict that Matrix Service will post 0.97 EPS for the current year.

In related news, VP Kevin S. Cavanah sold 14,505 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.15, for a total transaction of $306,780.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Harry Miller sold 1,825 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.25, for a total value of $40,606.25. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MTRX. JPMorgan Chase & Co. raised its position in Matrix Service by 100.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,430,801 shares of the oil and gas company’s stock worth $28,016,000 after purchasing an additional 717,743 shares during the last quarter. Boston Partners bought a new position in shares of Matrix Service in the 1st quarter worth about $9,679,000. American Century Companies Inc. raised its position in shares of Matrix Service by 529.7% in the 4th quarter. American Century Companies Inc. now owns 290,557 shares of the oil and gas company’s stock worth $5,213,000 after acquiring an additional 244,412 shares in the last quarter. Deutsche Bank AG raised its position in shares of Matrix Service by 67.7% in the 4th quarter. Deutsche Bank AG now owns 151,486 shares of the oil and gas company’s stock worth $2,716,000 after acquiring an additional 61,175 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Matrix Service in the 2nd quarter worth about $1,221,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.

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