BidaskClub downgraded shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a sell rating in a research report released on Wednesday, BidAskClub reports.

A number of other research firms have also weighed in on MTRX. DA Davidson upgraded shares of Matrix Service from a neutral rating to a buy rating and set a $25.00 price objective for the company in a research note on Wednesday, August 7th. ValuEngine downgraded shares of Matrix Service from a hold rating to a sell rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Matrix Service from a sell rating to a strong-buy rating and set a $22.00 price target on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $23.50.

NASDAQ:MTRX traded up $0.05 on Wednesday, reaching $19.09. 142,455 shares of the stock traded hands, compared to its average volume of 185,866. The company has a market capitalization of $517.91 million, a price-to-earnings ratio of 18.90 and a beta of 1.01. The company has a current ratio of 1.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.02. Matrix Service has a 12 month low of $15.43 and a 12 month high of $25.75. The company’s fifty day simple moving average is $18.93 and its 200 day simple moving average is $19.63.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, August 28th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $398.71 million during the quarter, compared to analyst estimates of $376.60 million. Matrix Service had a net margin of 1.98% and a return on equity of 8.39%. Matrix Service’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Equities analysts anticipate that Matrix Service will post 1.6 EPS for the current fiscal year.

In other news, COO Joseph F. Montalbano sold 10,275 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $20.36, for a total transaction of $209,199.00. Following the sale, the chief operating officer now owns 52,546 shares of the company’s stock, valued at approximately $1,069,836.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in shares of Matrix Service during the 2nd quarter valued at about $36,000. Advisors Asset Management Inc. boosted its holdings in shares of Matrix Service by 75.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,840 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 1,219 shares during the last quarter. KBC Group NV purchased a new stake in shares of Matrix Service during the 2nd quarter valued at about $105,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Matrix Service by 232.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,510 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 3,851 shares during the last quarter. Finally, Sun Life Financial INC purchased a new stake in shares of Matrix Service during the 2nd quarter valued at about $212,000. 95.52% of the stock is currently owned by hedge funds and other 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.

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