Brokerages Set Matrix Service Company (MTRX) Target Price at $20.00

Paterniano Del Favero
Agosto 13, 2017

Matrix Service Company (NASDAQ:MTRX) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, July 12th. The fund owned 16,370 shares of the oil and gas company's stock after selling 3,108 shares during the period. Ameriprise Financial Inc. raised its position in Matrix Service by 155.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,248,294 shares of the oil and gas company's stock valued at $21,022,000 after buying an additional 195,754 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Matrix Service by 41.0% in the first quarter. Comerica Bank increased its stake in Matrix Service by 6.2% in the fourth quarter. FMR LLC now owns 46,605 shares of the oil and gas company's stock valued at $1,058,000 after buying an additional 20,152 shares during the period. California Public Employees Retirement System boosted its stake in shares of Matrix Service by 20.5% in the second quarter. Arizona State Retirement System now owns 13,848 shares of the oil and gas company's stock worth $228,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Matrix Service during the first quarter worth $159,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Matrix Service (NASDAQ MTRX) traded down 0.99% during midday trading on Tuesday, reaching $10.05. Thrivent Financial for Lutherans now owns 14,300 shares of the oil and gas company's stock valued at $325,000 after buying an additional 810 shares during the period. The 50 day moving average went up $0.52 or +5.45% and the 200 day average went down $-3.12 or -23.48%. The stock has a market capitalization of $269.99 million, a price-to-earnings ratio of 27.36 and a beta of 0.75.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Tuesday, May 9th.

Several other research analysts also recently commented on MTRX. The company had revenue of $251.20 million for the quarter, compared to the consensus estimate of $248.51 million. During the same period past year, the company earned $0.16 EPS. Analysts expect next quarter's EPS will be $0.04 with next year's EPS projected to be $0.55. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.14 by $0.66.

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Several equities research analysts recently weighed in on the stock. TheStreet cut Matrix Service from a "c-" rating to a "d+" rating in a report on Wednesday, May 24th. Zacks Investment Research raised Matrix Service from a "sell" rating to a "hold" rating in a report on Saturday, April 15th. Finally, BidaskClub raised Matrix Service from a "sell" rating to a "hold" rating in a report on Saturday, August 5th. ValuEngine cut shares of Matrix Service from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd. The value of the company's investment in Matrix Service Company decreased from $1,648,000 to $1,531,000 a change of 7.1% for the reporting period. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The average 12-month price target among brokers that have issued a report on the stock in the a year ago is $20.00.

Matrix Service Company, launched on October 13, 1989, is involved in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company operates through four segments: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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