Matrix Service (NASDAQ:MTRX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.
MTRX has been the topic of a number of other reports. Zacks Investment Research lowered shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Saturday, September 15th. ValuEngine lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd.
Matrix Service stock opened at $20.58 on Friday. Matrix Service has a 1-year low of $13.00 and a 1-year high of $25.75. The firm has a market capitalization of $561.53 million, a price-to-earnings ratio of 137.20 and a beta of 0.83.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Monday, September 10th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Matrix Service had a negative net margin of 1.05% and a positive return on equity of 1.58%. The business had revenue of $293.10 million during the quarter, compared to the consensus estimate of $292.69 million. During the same period last year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was up .4% on a year-over-year basis. On average, equities research analysts anticipate that Matrix Service will post 1.01 EPS for the current fiscal year.
In related news, insider Bradley J. Rinehart sold 12,647 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $24.06, for a total transaction of $304,286.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Joseph F. Montalbano sold 34,785 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $22.66, for a total transaction of $788,228.10. The disclosure for this sale can be found here. Insiders have sold 98,266 shares of company stock worth $2,369,773 over the last three months. 1.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC bought a new position in shares of Matrix Service during the second quarter valued at about $115,000. Public Employees Retirement System of Ohio raised its position in Matrix Service by 78.5% in the second quarter. Public Employees Retirement System of Ohio now owns 7,303 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 3,211 shares during the period. Meeder Asset Management Inc. raised its position in Matrix Service by 83.0% in the second quarter. Meeder Asset Management Inc. now owns 8,436 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 3,825 shares during the period. Engineers Gate Manager LP bought a new stake in Matrix Service in the third quarter worth about $227,000. Finally, Palouse Capital Management Inc. bought a new stake in Matrix Service in the third quarter worth about $234,000. 92.71% of the stock is currently owned by institutional investors.
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.
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