Matrix Service (NASDAQ:MTRX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Matrix Service (NASDAQ:MTRX) from a buy rating to a hold rating in a report published on Friday.

Separately, DA Davidson restated a “buy” rating and set a $18.00 target price on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Price Performance

Shares of NASDAQ:MTRX opened at $12.83 on Friday. The company has a market capitalization of $353.44 million, a price-to-earnings ratio of -11.46 and a beta of 1.25. The firm’s 50 day simple moving average is $11.15 and its 200 day simple moving average is $10.64. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The company had revenue of $165.58 million for the quarter, compared to analyst estimates of $183.90 million. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. During the same quarter last year, the business posted ($0.21) earnings per share. Equities research analysts expect that Matrix Service will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Matrix Service

Several hedge funds have recently made changes to their positions in the business. Keene & Associates Inc. grew its stake in shares of Matrix Service by 4.3% during the 2nd quarter. Keene & Associates Inc. now owns 54,055 shares of the company’s stock worth $537,000 after acquiring an additional 2,206 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Matrix Service by 4.3% during the 2nd quarter. Victory Capital Management Inc. now owns 69,600 shares of the company’s stock worth $691,000 after acquiring an additional 2,900 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Matrix Service by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after acquiring an additional 3,215 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Matrix Service by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 37,714 shares of the company’s stock worth $374,000 after acquiring an additional 4,452 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Matrix Service by 66.3% during the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after acquiring an additional 8,344 shares in the last quarter. 78.38% of the stock is owned by institutional investors.

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.