Matrix Service Company Downgraded to Hold by Analysts at StockNews.com

Investment analysts at StockNews.com have adjusted their stance on Matrix Service Company MTRX, demoting the firm's rating from 'buy' to 'hold.' This revision in the equity rating was disseminated to investors through a research note that was made public on a recent Friday. MTRX has garnered attention as the subject of several other analytical reviews.

Significantly, DA Davidson revised its target price for Matrix Service from $11.00 to $15.00, maintaining a 'buy' rating, according to their report on September 13th. Additionally, TheStreet upgraded the rating of Matrix Service from 'd+' to 'c-' on a report dated September 6th.

The stock of Matrix Service made its way to open at $11.55 on Friday with its financial metrics indicating a 50-day moving average of $10.86, and 200-day moving average resting at $7.77. The company hit a 52-week low of $4.58 and a peak of $12.98. Presently, Matrix Service boasts a market capitalization of $314.28 million, shows a negative PE ratio of -6.35, a PEG ratio of 2.29, and maintains a beta of 1.33.

On the earnings front, MTRX disclosed its quarterly earnings results on September 11th, posting a lesser-than-expected loss per share at ($0.11), which is $0.18 better than the consensus estimate of ($0.29). Despite a negative net margin of 6.25% and a negative return on equity of 17.48%, the company sustained revenue figures amounting to $205.85 million. For the ongoing fiscal year, expert analysts project earnings to be $0.28 per share for MTRX.

Insider and Institutional Movements

Insider trading news includes MTRX CEO John R. Hewitt's sale of 7,500 company shares on September 29th at an average selling price of $12.00, totaling a value of $90,000. Post-transaction, Hewitt's holdings in the company are valued at approximately $5,854,692. All pertinent details for this insider sale are filed with the SEC.

Shifting the focus to institutional shareholders, several notable movements have occurred in MTRX's stakes. JPMorgan Chase & Co. JPM amplified its shareholding by 3.2% in the first quarter, now owning 586,959 shares worth $4,824,000. The Bank of New York Mellon Corp BK similarly raised its position by 3.8%, reporting ownership of 2,387,827 shares of MTRX tallying up to $19,627,000. Furthermore, BlackRock Inc. BLK expanded its holdings by 15.9%, exhibiting ownership of 2,423,133 MTRX shares, currently valued at $19,917,000. Acadian Asset Management LLC and MetLife Investment Management LLC have also newly acquired stakes in MTRX during the same quarter.

About Matrix Service Company

MTRX operates in the industrial sector by providing engineering, fabrication, construction, and maintenance services. It lends its expertise primarily to the energy infrastructure and industrial markets, extending its reach across the United States, Canada, and other international locations. Its strategic functions are delineated into segments that include Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions. Headquartered in Tulsa, Oklahoma, the company continues to play a pivotal role in serving the needs of its industrial clients.

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