Matrix Service (NASDAQ:MTRX) Stock Rating Reaffirmed by DA Davidson

Matrix Service (NASDAQ:MTRX)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $18.00 price objective on the stock. DA Davidson’s target price suggests a potential upside of 55.84% from the stock’s current price.

Separately, StockNews.com cut Matrix Service from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th.

Matrix Service Trading Up 5.2 %

MTRX opened at $11.55 on Thursday. The company has a market cap of $315.42 million, a P/E ratio of -15.20 and a beta of 1.24. The company’s 50 day moving average is $10.00 and its 200-day moving average is $10.90. Matrix Service has a 1-year low of $8.61 and a 1-year high of $13.90.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of Matrix Service during the second quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new position in Matrix Service during the 2nd quarter worth approximately $110,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Matrix Service in the 4th quarter worth approximately $126,000. XTX Topco Ltd increased its position in shares of Matrix Service by 66.3% during the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after buying an additional 8,344 shares during the period. Finally, Quadrature Capital Ltd raised its stake in Matrix Service by 38.8% during the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock worth $281,000 after buying an additional 8,059 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.