Matrix Service (MTRX) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Matrix Service (NASDAQ:MTRX) from a sell rating to a hold rating in a report issued on Wednesday morning.

A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded Matrix Service from a hold rating to a sell rating in a research note on Saturday, February 17th. ValuEngine downgraded Matrix Service from a hold rating to a sell rating in a research note on Wednesday, March 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $18.00.

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Shares of MTRX stock opened at $14.50 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.96. Matrix Service has a 52 week low of $7.80 and a 52 week high of $20.25. The company has a market capitalization of $392.87, a price-to-earnings ratio of -1,450.00 and a beta of 0.87.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. Matrix Service had a negative return on equity of 1.97% and a negative net margin of 0.59%. The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $298.43 million. During the same period in the previous year, the firm posted $0.20 earnings per share. Matrix Service’s quarterly revenue was down 9.5% compared to the same quarter last year. analysts predict that Matrix Service will post 0.65 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Matrix Service by 4.6% in the fourth quarter. BlackRock Inc. now owns 3,630,556 shares of the oil and gas company’s stock valued at $64,625,000 after acquiring an additional 159,300 shares during the period. Royce & Associates LP boosted its stake in Matrix Service by 0.9% in the third quarter. Royce & Associates LP now owns 1,021,428 shares of the oil and gas company’s stock valued at $15,526,000 after acquiring an additional 8,700 shares during the period. Smith Graham & Co. Investment Advisors LP boosted its stake in Matrix Service by 2.0% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 913,271 shares of the oil and gas company’s stock valued at $16,256,000 after acquiring an additional 17,910 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Matrix Service by 31.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 342,449 shares of the oil and gas company’s stock worth $6,096,000 after buying an additional 82,189 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Matrix Service by 123.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 282,390 shares of the oil and gas company’s stock worth $5,027,000 after buying an additional 156,210 shares during the period. Institutional investors own 91.49% of the company’s stock.

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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, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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