TheStreet upgraded shares of Matrix Service Company (NASDAQ:MTRX) from a d+ rating to a c- rating in a research report sent to investors on Monday morning.

Several other equities analysts have also issued reports on MTRX. Zacks Investment Research upgraded Matrix Service from a strong sell rating to a hold rating in a research note on Wednesday, July 12th. BidaskClub upgraded Matrix Service from a sell rating to a hold rating in a research note on Saturday, August 5th. KeyCorp reiterated a hold rating on shares of Matrix Service in a research note on Monday, August 28th. Finally, ValuEngine lowered Matrix Service from a buy rating to a hold rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of Hold.

Matrix Service (NASDAQ MTRX) opened at 14.15 on Monday. The firm’s market cap is $378.12 million. Matrix Service has a 12 month low of $7.80 and a 12 month high of $23.45. The stock has a 50 day moving average price of $13.57 and a 200 day moving average price of $11.65.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Matrix Service had a negative net margin of 0.02% and a negative return on equity of 0.06%. The firm had revenue of $291.84 million for the quarter, compared to the consensus estimate of $281.82 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue was down 18.9% on a year-over-year basis. On average, equities analysts expect that Matrix Service will post $0.60 earnings per share for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Matrix Service by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company’s stock valued at $21,022,000 after purchasing an additional 195,754 shares during the period. Vanguard Group Inc. grew its stake in shares of Matrix Service by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,492,327 shares of the oil and gas company’s stock valued at $13,953,000 after purchasing an additional 86,259 shares during the period. Smith Graham & Co. Investment Advisors LP grew its stake in shares of Matrix Service by 95.5% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 904,271 shares of the oil and gas company’s stock valued at $8,455,000 after purchasing an additional 441,659 shares during the period. State Street Corp grew its stake in shares of Matrix Service by 12.2% in the 1st quarter. State Street Corp now owns 838,988 shares of the oil and gas company’s stock valued at $13,842,000 after purchasing an additional 90,999 shares during the period. Finally, Boston Partners grew its stake in shares of Matrix Service by 32.0% in the 2nd quarter. Boston Partners now owns 740,510 shares of the oil and gas company’s stock valued at $6,923,000 after purchasing an additional 179,480 shares during the period. Institutional investors own 85.17% 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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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