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

Matrix Service (NASDAQ:MTRX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

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

Matrix Service Stock Performance

MTRX remained flat at $13.30 during trading on Wednesday. 79,387 shares of the company’s stock traded hands, compared to its average volume of 214,626. Matrix Service has a 1-year low of $8.61 and a 1-year high of $13.90. The firm has a market cap of $366.55 million, a P/E ratio of -11.87 and a beta of 1.25. The business’s fifty day moving average is $11.92 and its 200 day moving average is $10.79.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.01). Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. The firm had revenue of $165.58 million for the quarter, compared to analyst estimates of $183.90 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. On average, analysts forecast that Matrix Service will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Matrix Service during the third quarter worth $155,000. Barclays PLC increased its holdings in shares of Matrix Service by 90.8% during the third quarter. Barclays PLC now owns 53,435 shares of the company’s stock worth $616,000 after buying an additional 25,434 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Matrix Service by 0.8% during the third quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after buying an additional 4,709 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Matrix Service by 64.4% during the third quarter. XTX Topco Ltd now owns 34,421 shares of the company’s stock worth $397,000 after buying an additional 13,489 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Matrix Service by 43.9% during the third quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock worth $584,000 after buying an additional 15,444 shares in 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.