Zacks Investment Research lowered shares of Matrix Service (NASDAQ:MTRX) from a strong-buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

According to Zacks, “Matrix Service Company designs, constructs, maintains, and provides specialized repair services and products for aboveground storage tanks, provides general industrial construction and in-plant routine maintenance, process unit turnarounds and construction services principally for petroleum refineries, bulk storage terminals, pipelines, power plants and chemical plants. Matrix Service Company is a top-tier engineering, procurement and construction company providing these services, as well as fabrication, maintenance and repair, to the energy, power and industrial markets . The Company provides services through four subsidiaries: Matrix PDM Engineering, Matrix North American Construction (its direct hire union subsidiary), Matrix Service Inc., and Matrix Applied Technologies. “

Several other research analysts also recently issued reports on MTRX. ValuEngine downgraded Matrix Service from a buy rating to a hold rating in a research report on Thursday, May 23rd. BidaskClub downgraded Matrix Service from a buy rating to a hold rating in a research report on Saturday, March 30th. Finally, DA Davidson began coverage on Matrix Service in a research report on Wednesday, March 13th. They set a neutral rating and a $22.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Matrix Service presently has an average rating of Hold and a consensus target price of $36.00.

MTRX stock opened at $19.49 on Friday. Matrix Service has a 12-month low of $15.43 and a 12-month high of $25.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.43 and a quick ratio of 1.40. The company has a market cap of $522.47 million, a PE ratio of 129.93 and a beta of 1.06.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.07. Matrix Service had a return on equity of 4.93% and a net margin of 0.04%. The firm had revenue of $358.89 million during the quarter, compared to the consensus estimate of $347.85 million. During the same period in the previous year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, analysts forecast that Matrix Service will post 0.97 earnings per share for the current year.

In related news, VP Kevin S. Cavanah sold 14,505 shares of Matrix Service stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $21.15, for a total transaction of $306,780.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Harry Miller sold 1,825 shares of Matrix Service stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $22.25, for a total value of $40,606.25. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. grew its stake in Matrix Service by 167.9% in the 4th quarter. Macquarie Group Ltd. now owns 1,436 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 900 shares during the period. Advisors Asset Management Inc. grew its stake in Matrix Service by 2,694.8% in the 4th quarter. Advisors Asset Management Inc. now owns 1,621 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,563 shares during the period. Investors Research Corp purchased a new stake in Matrix Service in the 1st quarter worth approximately $63,000. BNP Paribas Arbitrage SA grew its stake in Matrix Service by 232.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 3,851 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Matrix Service in the 4th quarter worth approximately $139,000. Hedge funds and other institutional investors own 93.62% of the company’s stock.

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.

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