Several other brokerages also recently commented on MTRX. ValuEngine upgraded shares of Matrix Service from a sell rating to a hold rating in a report on Wednesday, October 2nd. TheStreet upgraded shares of Matrix Service from a c rating to a b- rating in a report on Tuesday, September 10th. Zacks Investment Research raised shares of Matrix Service from a sell rating to a strong-buy rating and set a $22.00 price target for the company in a research note on Thursday, September 5th. Finally, DA Davidson raised shares of Matrix Service from a neutral rating to a buy rating and set a $25.00 price target for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $23.50.
MTRX stock traded down $0.56 during mid-day trading on Wednesday, hitting $18.28. 168,367 shares of the company were exchanged, compared to its average volume of 168,580. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.49 and a current ratio of 1.51. The firm has a market cap of $511.16 million, a P/E ratio of 18.10 and a beta of 0.94. The firm’s 50 day simple moving average is $18.19 and its 200 day simple moving average is $19.13. Matrix Service has a 1-year low of $15.43 and a 1-year high of $24.47.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, August 28th. The oil and gas company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $398.71 million for the quarter, compared to the consensus estimate of $376.60 million. Matrix Service had a net margin of 1.98% and a return on equity of 8.39%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. On average, equities research analysts predict that Matrix Service will post 1.6 EPS for the current fiscal year.
In other news, COO Joseph F. Montalbano sold 10,275 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $20.36, for a total transaction of $209,199.00. Following the completion of the transaction, the chief operating officer now directly owns 52,546 shares of the company’s stock, valued at approximately $1,069,836.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP grew its stake in shares of Matrix Service by 147.3% during the 2nd quarter. GSA Capital Partners LLP now owns 49,041 shares of the oil and gas company’s stock worth $994,000 after acquiring an additional 29,213 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Matrix Service by 26.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 128,425 shares of the oil and gas company’s stock worth $2,602,000 after acquiring an additional 26,500 shares in the last quarter. Aperio Group LLC grew its stake in shares of Matrix Service by 10.7% during the 2nd quarter. Aperio Group LLC now owns 27,399 shares of the oil and gas company’s stock worth $555,000 after acquiring an additional 2,650 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Matrix Service by 12.7% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 292,385 shares of the oil and gas company’s stock worth $5,924,000 after acquiring an additional 32,880 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Matrix Service during the 2nd quarter worth approximately $36,000. 94.32% 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.
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