Matrix Service Company (MTRX) Receives Average Recommendation of “Hold” from Analysts

Matrix Service Company (NASDAQ:MTRX) has earned a consensus recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.00.

Several equities analysts recently issued reports on MTRX shares. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 14th. KeyCorp restated a “hold” rating on shares of Matrix Service in a research note on Monday, August 28th. ValuEngine lowered Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. Finally, BidaskClub lowered Matrix Service from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th.

A number of institutional investors and hedge funds have recently modified their holdings of MTRX. California Public Employees Retirement System increased its stake in Matrix Service by 14.4% during the first quarter. California Public Employees Retirement System now owns 101,500 shares of the oil and gas company’s stock valued at $1,675,000 after acquiring an additional 12,800 shares during the period. Vanguard Group Inc. grew its stake in shares of Matrix Service by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,406,068 shares of the oil and gas company’s stock valued at $23,200,000 after purchasing an additional 20,859 shares during the period. Geode Capital Management LLC grew its stake in shares of Matrix Service by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 467,405 shares of the oil and gas company’s stock valued at $7,712,000 after purchasing an additional 4,866 shares during the period. Bank of America Corp DE grew its stake in shares of Matrix Service by 18.6% in the 1st quarter. Bank of America Corp DE now owns 237,942 shares of the oil and gas company’s stock valued at $3,927,000 after purchasing an additional 37,271 shares during the period. Finally, State Street Corp grew its stake in shares of Matrix Service by 12.2% in the 1st quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock valued at $13,842,000 after purchasing an additional 90,999 shares during the period. Hedge funds and other institutional investors own 88.34% of the company’s stock.

Matrix Service (NASDAQ MTRX) traded down $0.25 during trading on Friday, hitting $16.95. The stock had a trading volume of 184,501 shares, compared to its average volume of 294,851. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.72 and a current ratio of 1.74. Matrix Service has a twelve month low of $7.80 and a twelve month high of $23.45.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.08. Matrix Service had a negative return on equity of 1.75% and a negative net margin of 0.51%. The firm had revenue of $269.91 million for the quarter, compared to analyst estimates of $290.56 million. During the same period in the previous year, the company posted $0.35 earnings per share. The company’s quarterly revenue was down 21.0% compared to the same quarter last year. analysts anticipate that Matrix Service will post 0.63 EPS for the current year.

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About Matrix Service

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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