Matrix Service (NASDAQ:MTRX) Downgraded to Buy Rating by StockNews.com

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

Separately, DA Davidson upped their target price on shares of Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th.

Matrix Service Trading Down 1.0 %

Shares of MTRX opened at $15.20 on Friday. Matrix Service has a 12-month low of $8.61 and a 12-month high of $15.75. The firm has a 50-day moving average price of $13.41 and a 200 day moving average price of $11.95. The firm has a market capitalization of $418.91 million, a P/E ratio of -12.46 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. Equities research analysts predict that Matrix Service will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in Matrix Service by 2.7% in the fourth quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after buying an additional 1,028 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Matrix Service by 5.8% during the third quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after purchasing an additional 1,239 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Matrix Service by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,465 shares of the company’s stock worth $485,000 after purchasing an additional 1,388 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Matrix Service by 2.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock worth $651,000 after purchasing an additional 1,573 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Matrix Service by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after purchasing an additional 1,731 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

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.