Matrix Service (MTRX) Coverage Initiated by Analysts at DA Davidson
Equities research analysts at DA Davidson began coverage on shares of Matrix Service (NASDAQ:MTRX) in a report released on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $22.00 price target on the oil and gas company’s stock. DA Davidson’s price target points to a potential upside of 6.28% from the company’s previous close. DA Davidson also issued estimates for Matrix Service’s Q4 2019 earnings at $0.41 EPS.
Several other brokerages have also recently commented on MTRX. Zacks Investment Research cut Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. BidaskClub cut Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Matrix Service presently has an average rating of “Buy” and a consensus price target of $36.67.
Shares of MTRX opened at $20.70 on Wednesday. Matrix Service has a one year low of $13.00 and a one year high of $25.75. The company has a market cap of $554.35 million, a P/E ratio of 138.00 and a beta of 1.10.
In other Matrix Service news, VP Rick J. Bennett sold 2,300 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $21.00, for a total transaction of $48,300.00. Following the transaction, the vice president now owns 16,721 shares of the company’s stock, valued at $351,141. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,104 shares of company stock worth $149,242 in the last three months. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in Matrix Service by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 65,249 shares of the oil and gas company’s stock worth $1,171,000 after buying an additional 651 shares during the last quarter. Texas Permanent School Fund boosted its stake in Matrix Service by 4.8% during the fourth quarter. Texas Permanent School Fund now owns 17,716 shares of the oil and gas company’s stock worth $318,000 after buying an additional 819 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Matrix Service by 167.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after buying an additional 900 shares during the last quarter. Legal & General Group Plc boosted its stake in Matrix Service by 1.9% during the fourth quarter. Legal & General Group Plc now owns 57,914 shares of the oil and gas company’s stock worth $1,027,000 after buying an additional 1,061 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Matrix Service by 13.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,900 shares of the oil and gas company’s stock worth $213,000 after buying an additional 1,400 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants and natural gas fired power stations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and emergency and storm restoration services to investor owned utilities.
Recommended Story: The components of the Stochastic Momentum Index
Receive News & Ratings for Matrix Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matrix Service and related companies with MarketBeat.com's FREE daily email newsletter.