Matrix Service (NASDAQ:MTRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other equities analysts have also commented on the stock. BidaskClub upgraded shares of Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. ValuEngine upgraded shares of Matrix Service from a “sell” rating to a “hold” rating in a research report on Tuesday, April 3rd. Five equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $18.00.
Shares of NASDAQ:MTRX opened at $16.25 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.99 and a quick ratio of 1.96. Matrix Service has a fifty-two week low of $7.80 and a fifty-two week high of $20.25. The firm has a market cap of $429.07, a P/E ratio of -1,625.00 and a beta of 0.87.
Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. Matrix Service had a negative net margin of 0.59% and a negative return on equity of 1.97%. The firm had revenue of $282.90 million during the quarter, compared to analyst estimates of $298.43 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. Matrix Service’s revenue for the quarter was down 9.5% on a year-over-year basis. research analysts anticipate that Matrix Service will post 0.65 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Matrix Service during the third quarter valued at $138,000. Brandywine Global Investment Management LLC bought a new position in Matrix Service during the fourth quarter valued at $182,000. Macquarie Group Ltd. bought a new position in Matrix Service during the fourth quarter valued at $236,000. MetLife Investment Advisors LLC bought a new position in Matrix Service during the fourth quarter valued at $253,000. Finally, Wolverine Trading LLC bought a new position in Matrix Service during the fourth quarter valued at $275,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
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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, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.
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