Matrix Service (MTRX) Stock Rating Lowered by BidaskClub

Matrix Service (NASDAQ:MTRX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on MTRX. ValuEngine downgraded shares of Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 14th. Finally, TheStreet raised shares of Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $18.00.

Shares of Matrix Service (NASDAQ MTRX) traded down $0.10 during trading hours on Friday, reaching $17.90. 178,400 shares of the company were exchanged, compared to its average volume of 188,550. The company has a market capitalization of $474.78, a P/E ratio of -81.36 and a beta of 0.85. Matrix Service has a 52 week low of $7.80 and a 52 week high of $23.10. The company has a quick ratio of 1.72, a current ratio of 1.74 and a debt-to-equity ratio of 0.13.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.08. The company had revenue of $269.91 million during the quarter, compared to the consensus estimate of $290.56 million. Matrix Service had a negative net margin of 0.51% and a negative return on equity of 1.75%. Matrix Service’s revenue for the quarter was down 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. equities analysts anticipate that Matrix Service will post 0.69 earnings per share for the current fiscal year.

In other Matrix Service news, CEO John R. Hewitt sold 5,000 shares of Matrix Service stock in a transaction on Friday, December 15th. The shares were sold at an average price of $17.66, for a total value of $88,300.00. Following the transaction, the chief executive officer now directly owns 283,529 shares of the company’s stock, valued at $5,007,122.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Matrix Service in the third quarter worth $138,000. Voya Investment Management LLC grew its holdings in Matrix Service by 22.5% in the second quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,997 shares during the last quarter. Cullen Capital Management LLC purchased a new position in Matrix Service in the second quarter worth $157,000. Brandes Investment Partners LP purchased a new position in Matrix Service in the third quarter worth $171,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Matrix Service in the third quarter worth $185,000. 88.28% of the stock is currently owned by institutional investors and hedge funds.

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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, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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