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

Matrix Service (NASDAQ:MTRXGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

MTRX has been the subject of several other research reports. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “sell” rating in a report on Saturday, May 14th. Guggenheim raised shares of Matrix Service from a “neutral” rating to a “buy” rating in a report on Friday, May 20th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Matrix Service presently has a consensus rating of “Hold”.

Matrix Service stock traded up $0.35 during mid-day trading on Monday, reaching $6.39. The company’s stock had a trading volume of 303,192 shares, compared to its average volume of 389,427. The firm has a market cap of $171.19 million, a price-to-earnings ratio of -1.94 and a beta of 1.68. The business has a 50 day moving average price of $6.58 and a 200-day moving average price of $7.31. Matrix Service has a twelve month low of $4.80 and a twelve month high of $11.76.

Matrix Service (NASDAQ:MTRXGet Rating) last announced its quarterly earnings results on Monday, May 9th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.27). Matrix Service had a negative net margin of 12.92% and a negative return on equity of 19.82%. The firm had revenue of $177.00 million for the quarter. As a group, research analysts expect that Matrix Service will post -1.9 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of Matrix Service by 48.7% during the second quarter. Royal Bank of Canada now owns 3,284 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,075 shares in the last quarter. UBS Group AG raised its position in Matrix Service by 98.0% in the third quarter. UBS Group AG now owns 5,415 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 2,680 shares in the last quarter. Alpha Paradigm Partners LLC bought a new stake in Matrix Service in the fourth quarter worth about $47,000. Metropolitan Life Insurance Co NY bought a new stake in Matrix Service in the third quarter worth about $75,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Matrix Service in the fourth quarter worth about $87,000. Institutional investors and hedge funds own 88.69% of the company’s stock.

About Matrix Service (Get Rating)

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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