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

StockNews.com downgraded shares of Matrix Service (NASDAQ:MTRX - Free Report) from a strong-buy rating to a buy rating in a research report released on Friday morning.

Separately, DA Davidson upped their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th.

Matrix Service Trading Down 1.0 %

MTRX traded down $0.16 during midday trading on Friday, reaching $15.20. The company's stock had a trading volume of 180,075 shares, compared to its average volume of 214,635. The firm has a market capitalization of $418.91 million, a price-to-earnings ratio of -12.46 and a beta of 1.28. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The stock's 50-day moving average is $13.46 and its 200-day moving average is $12.00.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts forecast that Matrix Service will post -0.04 earnings per share 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 company. Rhumbline Advisers grew its holdings in shares of Matrix Service by 2.7% during the fourth quarter. Rhumbline Advisers now owns 39,725 shares of the company's stock valued at $475,000 after buying an additional 1,028 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Matrix Service by 5.8% during the third quarter. Verition Fund Management LLC now owns 22,639 shares of the company's stock valued at $261,000 after buying an additional 1,239 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Matrix Service by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,465 shares of the company's stock valued at $485,000 after purchasing an additional 1,388 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Matrix Service by 2.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company's stock valued at $651,000 after purchasing an additional 1,573 shares during the period. Finally, SG Americas Securities LLC lifted its position in Matrix Service by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock valued at $133,000 after purchasing an additional 1,731 shares during the period. Hedge funds and other 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.