Matrix Service (NASDAQ:MTRX) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

A number of other equities research analysts have also recently weighed in on MTRX. KeyCorp reiterated a “hold” rating on shares of Matrix Service in a research note on Monday, August 28th. ValuEngine cut Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research cut Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 14th. Finally, TheStreet upgraded Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.00.

Shares of Matrix Service (NASDAQ MTRX) opened at $17.55 on Thursday. Matrix Service has a 52 week low of $7.80 and a 52 week high of $23.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.74 and a quick ratio of 1.72.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Tuesday, November 7th. The oil and gas company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.08. Matrix Service had a return on equity of 4.72% and a net margin of 1.42%. The firm had revenue of $269.91 million during the quarter, compared to analysts’ expectations of $290.56 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was down 21.0% compared to the same quarter last year. analysts anticipate that Matrix Service will post 0.63 earnings per share for the current fiscal year.

In other Matrix Service news, CEO John R. Hewitt sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $17.66, for a total value of $88,300.00. Following the completion of the sale, the chief executive officer now owns 283,529 shares in the company, valued at $5,007,122.14. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.50% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Matrix Service by 9.5% in the second 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. increased its holdings in shares of Matrix Service by 6.1% in the second 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. Royce & Associates LP increased its holdings in shares of Matrix Service by 0.9% in the third quarter. Royce & Associates LP now owns 1,021,428 shares of the oil and gas company’s stock valued at $15,526,000 after purchasing an additional 8,700 shares during the period. Northern Trust Corp increased its holdings in shares of Matrix Service by 35.8% in the second quarter. Northern Trust Corp now owns 699,229 shares of the oil and gas company’s stock valued at $6,537,000 after purchasing an additional 184,503 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Matrix Service by 38.3% in the second quarter. Ameriprise Financial Inc. now owns 470,885 shares of the oil and gas company’s stock valued at $4,401,000 after purchasing an additional 130,390 shares during the period. 88.28% of the stock is currently owned by institutional investors and hedge funds.

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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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