Matrix Service (NASDAQ:MTRX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

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

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $12.71 on Tuesday. The firm’s 50 day simple moving average is $12.23 and its 200-day simple moving average is $10.90. Matrix Service has a one year low of $8.61 and a one year high of $13.90. The firm has a market cap of $350.22 million, a PE ratio of -11.35 and a beta of 1.27.

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

Institutional Investors Weigh In On Matrix Service

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in Matrix Service in the third quarter worth about $155,000. Barclays PLC grew its position in shares of Matrix Service by 90.8% in the 3rd quarter. Barclays PLC now owns 53,435 shares of the company’s stock worth $616,000 after buying an additional 25,434 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Matrix Service by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after acquiring an additional 4,709 shares in the last quarter. XTX Topco Ltd lifted its position in Matrix Service by 64.4% during the third quarter. XTX Topco Ltd now owns 34,421 shares of the company’s stock valued at $397,000 after acquiring an additional 13,489 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Matrix Service by 43.9% in the third quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock valued at $584,000 after acquiring an additional 15,444 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.