Brokerages Set Matrix Service Co. (MTRX) Target Price at $25.00
Matrix Service Co. (NASDAQ:MTRX) has earned a consensus recommendation of “Buy” from the six research firms that are currently covering the company. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.75.
Several equities analysts have recently issued reports on MTRX shares. Zacks Investment Research upgraded Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. DA Davidson reiterated a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a research note on Friday, August 26th. Finally, TheStreet upgraded Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th.
In related news, VP Justin D. Sheets sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $18.71, for a total transaction of $39,291.00. Following the completion of the sale, the vice president now owns 13,979 shares in the company, valued at $261,547.09. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John R. Hewitt sold 15,957 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $19.02, for a total value of $303,502.14. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Matrix Service by 2.5% in the second quarter. BlackRock Fund Advisors now owns 1,873,375 shares of the company’s stock valued at $30,892,000 after buying an additional 44,838 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Matrix Service by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,598,652 shares of the company’s stock worth $26,361,000 after buying an additional 37,447 shares in the last quarter. LSV Asset Management boosted its stake in shares of Matrix Service by 28.0% in the second quarter. LSV Asset Management now owns 1,434,410 shares of the company’s stock worth $23,653,000 after buying an additional 314,181 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Matrix Service by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,362,792 shares of the company’s stock worth $22,472,000 after buying an additional 55,160 shares in the last quarter. Finally, Investment Counselors of Maryland LLC boosted its stake in shares of Matrix Service by 10.8% in the second quarter. Investment Counselors of Maryland LLC now owns 888,838 shares of the company’s stock worth $14,657,000 after buying an additional 86,500 shares in the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Matrix Service (NASDAQ:MTRX) opened at 18.26 on Thursday. The company has a 50-day moving average of $18.38 and a 200 day moving average of $17.31. The firm has a market cap of $484.26 million, a P/E ratio of 17.07 and a beta of 1.52. Matrix Service has a one year low of $14.07 and a one year high of $24.15.
Matrix Service (NASDAQ:MTRX) last released its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The company earned $359.60 million during the quarter. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities research analysts expect that Matrix Service will post $1.25 earnings per share for the current fiscal year.
About Matrix Service
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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