Matrix Service (NASDAQ:MTRX) Lifted to Buy at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Matrix Service (NASDAQ:MTRX – Free Report) from a hold rating to a buy rating in a research report report published on Tuesday.

Separately, DA Davidson reaffirmed a buy rating and issued a $18.00 target price on shares of Matrix Service in a research note on Thursday, September 26th.

Check Out Our Latest Stock Report on MTRX

Matrix Service Trading Down 0.2 %

Shares of Matrix Service stock opened at $11.37 on Tuesday. The company has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $10.79. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90.

Matrix Service (NASDAQ:MTRX – Get Free Report) last announced its earnings results on Monday, September 9th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. Matrix Service had a negative net margin of 3.43% and a negative return on equity of 16.87%. The company had revenue of $189.50 million during the quarter, compared to the consensus estimate of $215.61 million. On average, analysts predict that Matrix Service will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Matrix Service

Several institutional investors have recently modified their holdings of MTRX. Azarias Capital Management L.P. grew its position in shares of 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 buying an additional 282,086 shares during the period. Jane Street Group LLC grew its position in shares of Matrix Service by 92.0% during the 1st quarter. Jane Street Group LLC now owns 308,743 shares of the company’s stock worth $4,023,000 after buying an additional 147,942 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Matrix Service during the 2nd quarter worth approximately $830,000. Bank of New York Mellon Corp grew its position in shares of Matrix Service by 12.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 575,428 shares of the company’s stock worth $5,714,000 after buying an additional 65,902 shares during the period. Finally, Ancora Advisors LLC grew its position in shares of Matrix Service by 71.8% during the 1st quarter. Ancora Advisors LLC now owns 121,863 shares of the company’s stock worth $1,588,000 after buying an additional 50,940 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

(Get Free Report)

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.

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