DA Davidson Reaffirms Buy Rating for Matrix Service (NASDAQ:MTRX)

Matrix Service (NASDAQ:MTRX)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They presently have a $17.00 target price on the stock. DA Davidson’s price objective suggests a potential upside of 34.02% from the company’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

Matrix Service Stock Performance

NASDAQ MTRX traded down $0.34 during trading on Tuesday, hitting $12.69. The stock had a trading volume of 119,807 shares, compared to its average volume of 217,232. Matrix Service has a one year low of $9.33 and a one year high of $16.10. The stock has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $13.52. The stock has a market capitalization of $356.06 million, a price-to-earnings ratio of -12.10, a P/E/G ratio of 1.23 and a beta of 1.06.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Matrix Service had a negative net margin of 3.83% and a negative return on equity of 17.21%. The firm had revenue of $211.88 million during the quarter, compared to analyst estimates of $206.66 million. Matrix Service has set its FY 2026 guidance at EPS. On average, sell-side analysts predict that Matrix Service will post -0.26 EPS for the current year.

Insider Activity

In other news, Director John D. Chandler bought 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average price of $12.74 per share, with a total value of $29,302.00. Following the completion of the acquisition, the director directly owned 78,053 shares of the company’s stock, valued at $994,395.22. This trade represents a 3.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Matrix Service

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after purchasing an additional 1,032 shares during the period. Brooklyn Investment Group increased its stake in shares of Matrix Service by 2,026.3% in the 1st quarter. Brooklyn Investment Group now owns 3,402 shares of the company’s stock valued at $42,000 after purchasing an additional 3,242 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Matrix Service by 133.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Matrix Service in the 1st quarter valued at $73,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Matrix Service during the 2nd quarter valued at approximately $101,000. 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.