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

Matrix Service (NASDAQ:MTRX) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Separately, DA Davidson increased their price target on shares of Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $15.36 on Friday. The company has a 50-day simple moving average of $13.32 and a 200-day simple moving average of $11.88. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The stock has a market capitalization of $424.04 million, a price-to-earnings ratio of -12.59 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating 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, research analysts forecast that Matrix Service will post -0.04 EPS for the current fiscal year.

Institutional Trading of Matrix Service

Several large investors have recently modified their holdings of MTRX. The Manufacturers Life Insurance Company acquired a new stake in Matrix Service during the second quarter worth approximately $110,000. SG Americas Securities LLC acquired a new stake in Matrix Service during the third quarter worth approximately $108,000. Net Worth Advisory Group acquired a new stake in Matrix Service during the third quarter worth approximately $125,000. Stanley Laman Group Ltd. boosted its position in Matrix Service by 2.7% during the third quarter. Stanley Laman Group Ltd. now owns 335,444 shares of the company’s stock worth $3,868,000 after acquiring an additional 8,823 shares during the last quarter. Finally, Keene & Associates Inc. boosted its position in Matrix Service by 13.9% during the third quarter. Keene & Associates Inc. now owns 61,575 shares of the company’s stock worth $710,000 after acquiring an additional 7,520 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.