Matrix Service (NASDAQ:MTRX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Matrix Service (NASDAQ:MTRXFree Report) from a hold rating to a buy rating in a research note published on Thursday morning.

Matrix Service Trading Up 8.8 %

MTRX opened at $12.34 on Thursday. The stock has a market cap of $335.65 million, a price-to-earnings ratio of -17.63 and a beta of 1.15. The stock’s 50 day moving average price is $9.81 and its 200-day moving average price is $9.65. Matrix Service has a one year low of $4.58 and a one year high of $13.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.38 and a current ratio of 1.30.

Matrix Service (NASDAQ:MTRXGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The business had revenue of $197.66 million for the quarter, compared to the consensus estimate of $189.23 million. Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. On average, equities analysts forecast that Matrix Service will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, VP Justin D. Sheets sold 10,961 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $10.13, for a total value of $111,034.93. Following the transaction, the vice president now owns 56,316 shares of the company’s stock, valued at $570,481.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTRX. BlackRock Inc. grew its stake in Matrix Service by 15.9% in the first quarter. BlackRock Inc. now owns 2,423,133 shares of the company’s stock worth $19,917,000 after purchasing an additional 332,650 shares in the last quarter. Azarias Capital Management L.P. boosted its position in Matrix Service by 25.8% during the 4th quarter. Azarias Capital Management L.P. now owns 1,261,761 shares of the company’s stock valued at $12,340,000 after acquiring an additional 258,390 shares in the last quarter. Millennium Management LLC boosted its position in Matrix Service by 92.4% during the 2nd quarter. Millennium Management LLC now owns 443,717 shares of the company’s stock valued at $2,245,000 after acquiring an additional 213,119 shares in the last quarter. EAM Investors LLC bought a new stake in Matrix Service during the 3rd quarter valued at $2,336,000. Finally, AMH Equity Ltd bought a new stake in Matrix Service during the 2nd quarter valued at $1,034,000. Institutional investors own 76.75% of the company’s stock.

Matrix Service Company Profile

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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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