Matrix Service (NASDAQ:MTRX) Stock Rating Upgraded by Northland Securities

Matrix Service (NASDAQ:MTRX) was upgraded by stock analysts at Northland Securities to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. DA Davidson restated a “buy” rating and set a $17.00 price objective on shares of Matrix Service in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Matrix Service Trading Up 1.9%

MTRX stock opened at $11.63 on Wednesday. Matrix Service has a 12 month low of $9.33 and a 12 month high of $16.10. The stock has a market capitalization of $327.15 million, a P/E ratio of -17.10, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The firm has a 50-day moving average price of $12.58 and a 200-day moving average price of $13.20.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.06). The firm had revenue of $210.51 million during the quarter, compared to analyst estimates of $215.42 million. Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. As a group, equities analysts predict that Matrix Service will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Matrix Service news, insider Shawn P. Payne sold 5,231 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $11.42, for a total value of $59,738.02. Following the transaction, the insider directly owned 102,179 shares of the company’s stock, valued at approximately $1,166,884.18. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Matrix Service by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,522,943 shares of the company’s stock valued at $19,920,000 after acquiring an additional 60,955 shares in the last quarter. Westerly Capital Management LLC lifted its position in shares of Matrix Service by 34.1% during the 3rd quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $14,388,000 after buying an additional 280,000 shares in the last quarter. Boston Partners boosted its stake in shares of Matrix Service by 71.5% in the 2nd quarter. Boston Partners now owns 844,966 shares of the company’s stock worth $11,417,000 after buying an additional 352,194 shares during the last quarter. Azarias Capital Management L.P. increased its position in shares of Matrix Service by 15.1% during the fourth quarter. Azarias Capital Management L.P. now owns 730,767 shares of the company’s stock valued at $8,550,000 after acquiring an additional 95,924 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Matrix Service by 24.1% in the second quarter. American Century Companies Inc. now owns 671,398 shares of the company’s stock worth $9,071,000 after purchasing an additional 130,489 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.