Matrix Service (NASDAQ:MTRX) Downgraded by BidaskClub

BidaskClub cut shares of Matrix Service (NASDAQ:MTRX) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Gold Resource from a hold rating to a sell rating in a research report on Friday, June 21st. ValuEngine raised shares of Valmont Industries from a sell rating to a hold rating in a research report on Friday, July 12th.

MTRX traded down $0.05 during midday trading on Tuesday, reaching $18.35. The company had a trading volume of 17,936 shares, compared to its average volume of 86,624. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $497.54 million, a PE ratio of 122.33 and a beta of 1.11. Matrix Service has a 12-month low of $15.43 and a 12-month high of $25.75. The business’s 50-day moving average price is $19.42.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 8th. The oil and gas company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $358.89 million for the quarter, compared to analysts’ expectations of $347.85 million. Matrix Service had a net margin of 0.04% and a return on equity of 4.93%. The company’s quarterly revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. Analysts anticipate that Matrix Service will post 0.97 EPS for the current year.

In related news, Director James Harry Miller sold 1,825 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $22.25, for a total transaction of $40,606.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kevin S. Cavanah sold 14,505 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in Matrix Service by 16.8% during 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 in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in Matrix Service by 53.6% during 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 in the last quarter. Advisors Asset Management Inc. increased its stake in 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 purchasing an additional 1,219 shares in the last quarter. Rutabaga Capital Management LLC MA increased its stake in Matrix Service by 3.8% during 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 in the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in Matrix Service during the 1st quarter valued at about $264,000. 93.55% of the stock is currently owned by institutional investors and hedge funds.

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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