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

Matrix Service (NASDAQ:MTRX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

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

Matrix Service Stock Performance

NASDAQ:MTRX opened at $11.74 on Friday. The firm’s 50-day moving average is $10.49 and its 200-day moving average is $10.74. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The company has a market cap of $320.61 million, a price-to-earnings ratio of -15.45 and a beta of 1.26.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Matrix Service had a negative net margin of 3.43% and a negative return on equity of 16.87%. The company had revenue of $189.50 million for the quarter, compared to the consensus estimate of $215.61 million. Equities analysts predict that Matrix Service will post -0.05 EPS for the current year.

Institutional Trading of Matrix Service

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in Matrix Service in the second quarter valued at about $83,000. SG Americas Securities LLC bought a new stake in Matrix Service in the third quarter valued at about $108,000. The Manufacturers Life Insurance Company acquired a new position in Matrix Service in the second quarter valued at about $110,000. XTX Topco Ltd boosted its position in Matrix Service by 66.3% in the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock valued at $208,000 after buying an additional 8,344 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in Matrix Service by 38.8% in the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after buying an additional 8,059 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.