Matrix Service (NASDAQ:MTRX) Given “Buy” Rating at DA Davidson

DA Davidson restated their buy rating on shares of Matrix Service (NASDAQ:MTRX) in a report issued on Friday,Benzinga reports. DA Davidson currently has a $17.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.00.

Matrix Service Price Performance

Shares of MTRX stock opened at $11.06 on Friday. The company has a market capitalization of $311.01 million, a P/E ratio of -16.26, a P/E/G ratio of 1.92 and a beta of 0.95. The company’s 50-day simple moving average is $12.59 and its two-hundred day simple moving average is $13.29. Matrix Service has a one year low of $9.33 and a one year high of $16.10.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Wednesday, February 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. The firm had revenue of $210.51 million during the quarter, compared to analysts’ expectations of $215.42 million. On average, research analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Insider Activity

In other news, insider Shawn P. Payne sold 8,250 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $12.58, for a total value of $103,785.00. Following the completion of the transaction, the insider directly owned 110,429 shares of the company’s stock, valued at approximately $1,389,196.82. The trade was a 6.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 16,500 shares of company stock valued at $198,000. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors have recently added to or reduced their stakes in MTRX. Quarry LP bought a new position in Matrix Service in the third quarter worth about $28,000. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after buying an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Matrix Service by 133.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Matrix Service during the third quarter valued at approximately $67,000. Finally, Daytona Street Capital LLC acquired a new stake in Matrix Service in the fourth quarter valued at approximately $78,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.