Matrix Service (NASDAQ:MTRX) Rating Increased to Strong-Buy at StockNews.com

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

Matrix Service Stock Performance

MTRX stock opened at $14.18 on Thursday. Matrix Service has a one year low of $8.61 and a one year high of $15.45. The firm has a market cap 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 posted its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research 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 institutional investors have recently made changes to their positions in MTRX. R Squared Ltd purchased a new position in shares of Matrix Service during the 4th quarter worth approximately $45,000. Quarry LP acquired a new position in Matrix Service during the third quarter worth $53,000. BNP Paribas Financial Markets boosted its position in shares of Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after buying an additional 4,860 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Matrix Service in the third quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Matrix Service in the 2nd quarter valued at $110,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.