Matrix Service (NASDAQ:MTRX) Stock Rating Lowered by ValuEngine

Matrix Service (NASDAQ:MTRX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday, ValuEngine reports.

A number of other research analysts also recently issued reports on the company. BidaskClub raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 30th. Zacks Investment Research downgraded Gold Resource from a “hold” rating to a “sell” rating in a report on Friday, June 21st.

Matrix Service stock opened at $19.64 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.43 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $19.41. Matrix Service has a 12 month low of $15.43 and a 12 month high of $25.75. The company has a market capitalization of $527.83 million, a P/E ratio of 130.93 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 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 business had revenue of $358.89 million for the quarter, compared to the consensus estimate of $347.85 million. During the same period in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, equities analysts expect that Matrix Service will post 0.97 EPS for the current fiscal year.

In other news, Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.25, for a total transaction of $40,606.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kevin S. Cavanah sold 14,505 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $21.15, for a total value of $306,780.75. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Matrix Service by 16.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 13,900 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 2,000 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Matrix Service by 53.6% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 25,280 shares of the oil and gas company’s stock valued at $512,000 after purchasing an additional 8,824 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Matrix Service by 75.2% in 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 purchasing an additional 1,219 shares during the last quarter. Rutabaga Capital Management LLC MA lifted its stake in shares of Matrix Service by 3.8% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 250,402 shares of the oil and gas company’s stock valued at $4,903,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in shares of Matrix Service in the 1st quarter valued at approximately $264,000. 93.62% 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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.