Matrix Service (NASDAQ:MTRX) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

MTRX has been the topic of several other research reports. BidaskClub downgraded shares of Matrix Service from a sell rating to a strong sell rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded shares of Matrix Service from a hold rating to a sell rating in a research report on Saturday, July 27th.

NASDAQ:MTRX traded down $0.34 during trading hours on Thursday, hitting $18.33. 76,250 shares of the company were exchanged, compared to its average volume of 104,359. The stock has a market cap of $500.49 million, a PE ratio of 122.20 and a beta of 1.05. Matrix Service has a 52-week low of $15.43 and a 52-week high of $25.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.43 and a quick ratio of 1.40. The company’s 50 day moving average is $19.29.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The company had revenue of $358.89 million for the quarter, compared to the consensus estimate of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. Matrix Service’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) EPS. As a group, equities research analysts predict that Matrix Service will post 0.97 EPS for the current year.

In other Matrix Service news, VP Kevin S. Cavanah sold 14,505 shares of Matrix Service stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total transaction of $306,780.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Harry Miller sold 1,825 shares of Matrix Service stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $22.25, for a total transaction of $40,606.25. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its stake in Matrix Service by 167.9% during the 4th quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 900 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Matrix Service by 75.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,840 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 1,219 shares during the period. Investors Research Corp acquired a new position in shares of Matrix Service in the 1st quarter valued at $63,000. KBC Group NV acquired a new position in shares of Matrix Service in the 2nd quarter valued at $105,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Matrix Service by 232.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 3,851 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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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