Zacks Investment Research cut shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a sell rating in a research report report published on Saturday morning.
According to Zacks, “Matrix Service Company designs, constructs, maintains, and provides specialized repair services and products for aboveground storage tanks, provides general industrial construction and in-plant routine maintenance, process unit turnarounds and construction services principally for petroleum refineries, bulk storage terminals, pipelines, power plants and chemical plants. Matrix Service Company is a top-tier engineering, procurement and construction company providing these services, as well as fabrication, maintenance and repair, to the energy, power and industrial markets . The Company provides services through four subsidiaries: Matrix PDM Engineering, Matrix North American Construction (its direct hire union subsidiary), Matrix Service Inc., and Matrix Applied Technologies. “
Separately, BidaskClub cut shares of Matrix Service from a strong-buy rating to a buy rating in a research report on Saturday, January 6th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Matrix Service currently has a consensus rating of Hold and an average target price of $18.00.
Shares of Matrix Service (MTRX) opened at $15.50 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.15. Matrix Service has a fifty-two week low of $7.80 and a fifty-two week high of $20.25. The company has a market cap of $415.66, a price-to-earnings ratio of -62.00 and a beta of 0.63.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $298.43 million. Matrix Service had a negative net margin of 0.59% and a negative return on equity of 1.97%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. equities analysts forecast that Matrix Service will post 0.67 earnings per share for the current fiscal year.
In other 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 transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MTRX. Alliancebernstein L.P. boosted its position in shares of Matrix Service by 5.6% during the second quarter. Alliancebernstein L.P. now owns 39,800 shares of the oil and gas company’s stock worth $372,000 after purchasing an additional 2,100 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Matrix Service by 38.3% during the second quarter. Ameriprise Financial Inc. now owns 470,885 shares of the oil and gas company’s stock worth $4,401,000 after purchasing an additional 130,390 shares in the last quarter. Northern Trust Corp boosted its position in shares of Matrix Service by 35.8% during the second quarter. Northern Trust Corp now owns 699,229 shares of the oil and gas company’s stock worth $6,537,000 after purchasing an additional 184,503 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Matrix Service by 6.1% during the second quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock worth $13,953,000 after purchasing an additional 86,259 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Matrix Service by 20.5% during the second quarter. California Public Employees Retirement System now owns 122,300 shares of the oil and gas company’s stock worth $1,144,000 after purchasing an additional 20,800 shares in the last quarter. 91.23% of the stock is currently owned by institutional investors.
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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