Matrix Service (NASDAQ:MTRX) Price Target Raised to $20.00 at DA Davidson

Matrix Service (NASDAQ:MTRX) had its price objective raised by stock analysts at DA Davidson from $18.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 30.51% from the company’s previous close.

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

Matrix Service Stock Up 1.7 %

Shares of Matrix Service stock traded up $0.26 during mid-day trading on Tuesday, reaching $15.33. 54,734 shares of the stock traded hands, compared to its average volume of 204,168. The stock has a market capitalization of $422.36 million, a PE ratio of -12.56 and a beta of 1.28. The business has a 50-day moving average of $13.20 and a 200 day moving average of $11.78. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTRX. R Squared Ltd acquired a new stake in Matrix Service in the fourth quarter valued at approximately $45,000. Quarry LP acquired a new stake in shares of Matrix Service in the 3rd quarter valued at $53,000. BNP Paribas Financial Markets lifted its position in shares of Matrix Service by 112.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after purchasing an additional 4,860 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Matrix Service during the 3rd quarter worth $108,000. Finally, Net Worth Advisory Group acquired a new position in shares of Matrix Service during the third quarter worth $125,000. Institutional investors and hedge funds 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.