Matrix Service (NASDAQ:MTRX) Stock Rating Lowered by StockNews.com

Matrix Service (NASDAQ:MTRX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, DA Davidson reissued a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Stock Up 2.0 %

Shares of Matrix Service stock opened at $13.01 on Friday. The stock’s fifty day moving average is $11.15 and its two-hundred day moving average is $10.64. The company has a market capitalization of $358.43 million, a PE ratio of -11.62 and a beta of 1.25. Matrix Service has a 52 week low of $8.61 and a 52 week high of $13.90.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The company had revenue of $165.58 million for the quarter, compared to analysts’ expectations of $183.90 million. Matrix Service had a negative return on equity of 19.18% and a negative net margin of 4.46%. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, research analysts anticipate that Matrix Service will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Matrix Service

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Azarias Capital Management L.P. grew its stake in Matrix Service by 28.5% during the 2nd quarter. Azarias Capital Management L.P. now owns 1,273,193 shares of the company’s stock worth $12,643,000 after purchasing an additional 282,086 shares in the last quarter. Vanguard Group Inc. lifted its position in Matrix Service by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after acquiring an additional 11,587 shares during the period. Dimensional Fund Advisors LP lifted its position in Matrix Service by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after acquiring an additional 3,215 shares during the period. Gendell Jeffrey L lifted its position in Matrix Service by 5.8% during the 1st quarter. Gendell Jeffrey L now owns 870,556 shares of the company’s stock worth $11,343,000 after acquiring an additional 48,000 shares during the period. Finally, Royce & Associates LP lifted its position in Matrix Service by 14.3% during the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock worth $9,953,000 after acquiring an additional 107,820 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.