Matrix Service (NASDAQ:MTRX) Rating Increased to B- at TheStreet

Matrix Service (NASDAQ:MTRX) was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating in a report released on Tuesday, TheStreetRatingsTable reports.

A number of other research analysts have also recently commented on MTRX. DA Davidson raised shares of Matrix Service from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, August 7th. BidaskClub cut shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine cut shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Matrix Service from a “sell” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $23.50.

NASDAQ MTRX traded down $0.06 during trading hours on Tuesday, reaching $19.04. The company had a trading volume of 217,412 shares, compared to its average volume of 142,073. The stock has a 50-day moving average of $18.92 and a 200 day moving average of $19.64. Matrix Service has a 1-year low of $15.43 and a 1-year high of $25.75. The company has a current ratio of 1.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $505.18 million, a P/E ratio of 18.85 and a beta of 1.01.



Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, August 28th. The oil and gas company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. Matrix Service had a net margin of 1.98% and a return on equity of 8.39%. The company had revenue of $398.71 million for the quarter, compared to analysts’ expectations of $376.60 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Matrix Service’s revenue for the quarter was up 36.0% compared to the same quarter last year. As a group, sell-side analysts predict that Matrix Service will post 1.6 EPS for the current year.

In other Matrix Service news, COO Joseph F. Montalbano sold 10,275 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $20.36, for a total value of $209,199.00. Following the transaction, the chief operating officer now owns 52,546 shares of the company’s stock, valued at $1,069,836.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MTRX. JPMorgan Chase & Co. lifted its position in shares of Matrix Service by 100.7% during the first quarter. JPMorgan Chase & Co. now owns 1,430,801 shares of the oil and gas company’s stock worth $28,016,000 after purchasing an additional 717,743 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Matrix Service by 68.0% during the second quarter. Russell Investments Group Ltd. now owns 1,153,315 shares of the oil and gas company’s stock worth $23,363,000 after purchasing an additional 467,001 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Matrix Service during the second quarter worth about $7,223,000. BlackRock Inc. lifted its position in shares of Matrix Service by 5.5% during the second quarter. BlackRock Inc. now owns 4,297,340 shares of the oil and gas company’s stock worth $87,065,000 after purchasing an additional 224,618 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Matrix Service by 20.2% during the second quarter. Prudential Financial Inc. now owns 721,436 shares of the oil and gas company’s stock worth $14,616,000 after purchasing an additional 121,162 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.

Further Reading: Initial Coin Offering (ICO)

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