Matrix Service Company (MTRX) Lowered to “Sell” at ValuEngine

Matrix Service Company (NASDAQ:MTRX) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

A number of other research firms also recently issued reports on MTRX. BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded Matrix Service from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. KeyCorp reiterated a “hold” rating on shares of Matrix Service in a report on Monday, August 28th. Stephens reiterated a “hold” rating on shares of Matrix Service in a report on Monday, May 15th. Finally, TheStreet downgraded Matrix Service from a “c-” rating to a “d+” rating in a report on Wednesday, May 24th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold”.

Matrix Service (NASDAQ:MTRX) traded up 1.05% during mid-day trading on Tuesday, reaching $14.45. 353,765 shares of the company traded hands. The stock has a market capitalization of $384.37 million, a price-to-earnings ratio of 38.95 and a beta of 0.70. The company’s 50-day moving average is $10.79 and its 200-day moving average is $11.82. Matrix Service has a 12-month low of $7.80 and a 12-month high of $23.45.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $291.84 million during the quarter, compared to the consensus estimate of $281.82 million. Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. Matrix Service’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. Equities analysts predict that Matrix Service will post $0.60 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Palouse Capital Management Inc. bought a new position in Matrix Service in the first quarter worth $183,000. Arizona State Retirement System increased its holdings in shares of Matrix Service by 1.5% during the first quarter. Arizona State Retirement System now owns 13,848 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 200 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Matrix Service by 132.5% during the second quarter. Wedbush Securities Inc. now owns 63,892 shares of the oil and gas company’s stock valued at $597,000 after acquiring an additional 36,411 shares in the last quarter. Alambic Investment Management L.P. increased its holdings in shares of Matrix Service by 94.6% during the first quarter. Alambic Investment Management L.P. now owns 36,615 shares of the oil and gas company’s stock valued at $604,000 after acquiring an additional 17,800 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Matrix Service during the second quarter valued at $3,875,000. Institutional investors and hedge funds own 85.55% 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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