Matrix Service (NASDAQ:MTRX - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.
Separately, DA Davidson restated a "buy" rating and set a $18.00 price target on shares of Matrix Service in a research report on Thursday, September 26th.
Get Our Latest Stock Analysis on MTRX
Matrix Service Stock Performance
NASDAQ MTRX traded up $0.26 on Friday, reaching $13.01. 169,735 shares of the company's stock traded hands, compared to its average volume of 103,223. The firm has a market cap of $358.43 million, a price-to-earnings ratio of -11.62 and a beta of 1.25. The stock has a 50 day moving average price of $11.15 and a 200-day moving average price of $10.65. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90.
Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.07. The company had revenue of $189.50 million during the quarter, compared to the consensus estimate of $215.61 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.18%. As a group, equities research analysts anticipate that Matrix Service will post -0.05 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in Matrix Service during the 2nd quarter valued at about $83,000. SG Americas Securities LLC purchased a new stake in Matrix Service during the 3rd quarter valued at about $108,000. The Manufacturers Life Insurance Company purchased a new stake in Matrix Service during the 2nd quarter valued at about $110,000. Net Worth Advisory Group purchased a new stake in Matrix Service during the 3rd quarter valued at about $125,000. Finally, XTX Topco Ltd grew its stake in Matrix Service by 66.3% during the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company's stock valued at $208,000 after acquiring an additional 8,344 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.
About Matrix Service
(
Get Free Report)
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.
Further Reading
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