Several other equities analysts also recently commented on MTRX. Zacks Investment Research downgraded shares of Matrix Service Company from a hold rating to a strong sell rating in a report on Thursday, November 3rd. Avondale Partners downgraded shares of Matrix Service Company from a market outperform rating to a market perform rating in a report on Friday, November 18th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Matrix Service Company presently has a consensus rating of Buy and a consensus price target of $22.33.
Matrix Service Company (NASDAQ:MTRX) opened at 17.30 on Friday. Matrix Service Company has a 12-month low of $14.07 and a 12-month high of $23.45. The company has a market capitalization of $460.06 million, a P/E ratio of 16.48 and a beta of 1.31. The stock’s 50 day moving average is $21.75 and its 200-day moving average is $19.60.
Matrix Service Company (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.10. Matrix Service Company had a net margin of 2.12% and a return on equity of 8.78%. The company earned $312.70 million during the quarter, compared to analyst estimates of $324.56 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Matrix Service Company’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts predict that Matrix Service Company will post $0.95 earnings per share for the current fiscal year.
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In other news, insider Bradley J. Rinehart sold 25,300 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $22.59, for a total value of $571,527.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Ryan sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. The disclosure for this sale can be found here. Insiders have sold 71,536 shares of company stock valued at $1,562,225 in the last ninety days. 2.50% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in Matrix Service Company by 1.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,920 shares of the company’s stock worth $111,000 after buying an additional 110 shares in the last quarter. Springbank Value Partners LP increased its stake in Matrix Service Company by 900.0% in the third quarter. Springbank Value Partners LP now owns 10,000 shares of the company’s stock worth $188,000 after buying an additional 9,000 shares in the last quarter. Stevens Capital Management LP purchased a new stake in Matrix Service Company during the third quarter worth $215,000. Alambic Investment Management L.P. purchased a new stake in Matrix Service Company during the third quarter worth $242,000. Finally, Gray Financial Group GA ADV ADV purchased a new stake in Matrix Service Company during the fourth quarter worth $263,000. 90.12% of the stock is owned by institutional investors and hedge funds.
About Matrix Service Company
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.
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