Analysts Set Matrix Service Co. (MTRX) Price Target at $25.00
Matrix Service Co. (NASDAQ:MTRX) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.00.
MTRX has been the subject of several recent analyst reports. DA Davidson reiterated a “buy” rating and set a $20.00 price objective on shares of Matrix Service in a research note on Friday, August 26th. TheStreet upgraded Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 3rd. Finally, Avondale Partners lowered Matrix Service from a “market outperform” rating to a “market perform” rating in a research note on Friday, November 18th.
Shares of Matrix Service (NASDAQ:MTRX) opened at 19.95 on Friday. Matrix Service has a 12-month low of $14.07 and a 12-month high of $23.55. The company has a 50-day moving average of $18.58 and a 200 day moving average of $17.41. The firm has a market cap of $529.33 million, a P/E ratio of 19.02 and a beta of 1.38.
Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Matrix Service had a return on equity of 10.09% and a net margin of 2.12%. The firm earned $341 million during the quarter, compared to analyst estimates of $345.14 million. During the same period in the prior year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts predict that Matrix Service will post $1.22 EPS for the current year.
In related news, insider James P. Ryan sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $19.59, for a total value of $195,900.00. Following the transaction, the insider now owns 77,528 shares in the company, valued at $1,518,773.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James P. Ryan sold 2,150 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $19.01, for a total value of $40,871.50. Following the completion of the transaction, the insider now owns 91,907 shares in the company, valued at approximately $1,747,152.07. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of MTRX. Fiera Capital Corp purchased a new position in Matrix Service during the second quarter valued at about $7,418,000. LSV Asset Management boosted its position in Matrix Service by 28.0% in the second quarter. LSV Asset Management now owns 1,434,410 shares of the company’s stock valued at $23,653,000 after buying an additional 314,181 shares in the last quarter. Citadel Advisors LLC boosted its position in Matrix Service by 1,287.6% in the third quarter. Citadel Advisors LLC now owns 274,530 shares of the company’s stock valued at $5,150,000 after buying an additional 254,745 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Matrix Service by 3,115.4% in the second quarter. Riverhead Capital Management LLC now owns 234,594 shares of the company’s stock valued at $7,259,000 after buying an additional 227,298 shares in the last quarter. Finally, Boston Partners boosted its position in Matrix Service by 56.8% in the second quarter. Boston Partners now owns 525,490 shares of the company’s stock valued at $8,666,000 after buying an additional 190,440 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.
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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