DA Davidson Forecasts Strong Price Appreciation for Matrix Service (NASDAQ:MTRX) Stock

Matrix Service (NASDAQ:MTRX) had its target price hoisted by investment analysts at DA Davidson from $18.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 30.12% from the company’s previous close. DA Davidson also issued estimates for Matrix Service’s FY2026 earnings at $1.25 EPS.

Separately, StockNews.com upgraded shares of Matrix Service from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th.

Matrix Service Price Performance

MTRX stock opened at $15.37 on Tuesday. The stock has a market cap of $423.60 million, a price-to-earnings ratio of -12.60 and a beta of 1.28. The company has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $11.85. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, equities research analysts anticipate that Matrix Service will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in Matrix Service during the 4th quarter worth approximately $45,000. Quarry LP bought a new position in Matrix Service during the third quarter worth $53,000. BNP Paribas Financial Markets lifted its holdings in Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after buying an additional 4,860 shares during the period. SG Americas Securities LLC bought a new stake in Matrix Service during the third quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Matrix Service during the 2nd quarter worth about $110,000. Institutional investors own 78.38% of the company’s stock.

About Matrix Service

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.