Matrix Service (NASDAQ:MTRX) Stock Rating Upgraded by StockNews.com

Matrix Service (NASDAQ:MTRX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

Matrix Service Trading Up 0.3 %

Shares of Matrix Service stock opened at $14.18 on Thursday. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.45. The firm has a market capitalization of $390.80 million, a PE ratio of -12.66 and a beta of 1.28. The firm’s 50-day moving average price is $13.18 and its 200 day moving average price is $11.74.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. On average, sell-side analysts predict that Matrix Service will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Matrix Service

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Matrix Service by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock worth $1,045,000 after acquiring an additional 60,838 shares during the last quarter. Barclays PLC boosted its holdings in shares of Matrix Service by 90.8% during the 3rd quarter. Barclays PLC now owns 53,435 shares of the company’s stock worth $616,000 after purchasing an additional 25,434 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares in the last quarter. State Street Corp increased its holdings in shares of Matrix Service by 17.0% in the third quarter. State Street Corp now owns 384,173 shares of the company’s stock valued at $4,430,000 after purchasing an additional 55,691 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Matrix Service by 43.9% during the third quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock worth $584,000 after buying an additional 15,444 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.