Research Analysts’ Recent Ratings Updates for Matrix Service (MTRX)

Matrix Service (NASDAQ: MTRX) has recently received a number of price target changes and ratings updates:

• 9/26/2024 – Matrix Service had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $18.00 price target on the stock.
• 9/18/2024 – Matrix Service was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/10/2024 – Matrix Service was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/10/2024 – Matrix Service had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $18.00 price target on the stock.

Matrix Service Price Performance

Matrix Service stock traded down $0.07 during mid-day trading on Monday, reaching $11.48. 202,512 shares of the company traded hands, compared to its average volume of 234,215. The firm has a market capitalization of $313.51 million, a price-to-earnings ratio of -15.11 and a beta of 1.24. The firm’s 50 day moving average price is $10.03 and its 200 day moving average price is $10.86. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MTRX. Quest Partners LLC bought a new position in Matrix Service in the second quarter worth approximately $83,000. The Manufacturers Life Insurance Company bought a new position in shares of Matrix Service in the 2nd quarter valued at about $110,000. XTX Topco Ltd boosted its holdings in shares of Matrix Service by 66.3% in the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after purchasing an additional 8,344 shares during the period. Quadrature Capital Ltd raised its position in Matrix Service by 38.8% in the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock worth $281,000 after purchasing an additional 8,059 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of Matrix Service in the 4th quarter worth $317,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.