Matrix Service (NASDAQ:MTRX) Price Target Raised to $20.00 at DA Davidson

Matrix Service (NASDAQ:MTRX) had its price target boosted by DA Davidson from $18.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, StockNews.com raised shares of Matrix Service from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th.

Matrix Service Trading Up 2.7 %

NASDAQ:MTRX opened at $15.48 on Tuesday. The company has a market cap of $426.63 million, a PE ratio of -12.69 and a beta of 1.28. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The company’s 50 day moving average is $13.23 and its two-hundred day moving average is $11.82.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. As a group, analysts expect that Matrix Service will post -0.04 EPS for the current fiscal year.

Institutional Trading of Matrix Service

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company purchased a new stake in Matrix Service during the second quarter worth $110,000. SG Americas Securities LLC purchased a new stake in Matrix Service during the third quarter worth $108,000. Net Worth Advisory Group purchased a new stake in Matrix Service during the third quarter worth $125,000. Stanley Laman Group Ltd. boosted its holdings in Matrix Service by 2.7% during the third quarter. Stanley Laman Group Ltd. now owns 335,444 shares of the company’s stock worth $3,868,000 after buying an additional 8,823 shares in the last quarter. Finally, Keene & Associates Inc. boosted its holdings in Matrix Service by 13.9% during the third quarter. Keene & Associates Inc. now owns 61,575 shares of the company’s stock worth $710,000 after buying an additional 7,520 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

About Matrix Service

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.