Matrix Service (NASDAQ:MTRX) Stock Rating Upgraded by StockNews.com

Matrix Service (NASDAQ:MTRX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, DA Davidson restated a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Stock Performance

Matrix Service stock remained flat at $13.30 during midday trading on Wednesday. The company had a trading volume of 79,387 shares, compared to its average volume of 214,626. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90. The company has a market cap of $366.55 million, a price-to-earnings ratio of -11.87 and a beta of 1.25. The firm has a 50 day moving average price of $11.92 and a 200-day moving average price of $10.79.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. The firm had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, sell-side analysts expect that Matrix Service will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Matrix Service by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock valued at $15,946,000 after buying an additional 11,587 shares in the last quarter. Jane Street Group LLC raised its position in shares of Matrix Service by 92.0% in the first quarter. Jane Street Group LLC now owns 308,743 shares of the company’s stock valued at $4,023,000 after buying an additional 147,942 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Matrix Service in the second quarter valued at approximately $830,000. Stanley Laman Group Ltd. raised its position in shares of Matrix Service by 4.2% in the second quarter. Stanley Laman Group Ltd. now owns 326,621 shares of the company’s stock valued at $3,243,000 after buying an additional 13,071 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Matrix Service by 12.9% in the second quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company’s stock valued at $5,714,000 after buying an additional 65,902 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.