Matrix Service (NASDAQ:MTRX) Given New $20.00 Price Target at DA Davidson

Matrix Service (NASDAQ:MTRX) had its price objective raised by stock analysts at DA Davidson from $18.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target would indicate a potential upside of 30.51% from the company’s current price.

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

Matrix Service Stock Up 1.7 %

MTRX stock traded up $0.26 on Tuesday, reaching $15.33. 54,734 shares of the company’s stock were exchanged, compared to its average volume of 204,168. The stock has a fifty day moving average of $13.20 and a 200-day moving average of $11.78. The firm has a market cap of $422.36 million, a PE ratio of -12.56 and a beta of 1.28. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts predict that Matrix Service will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Matrix Service

Large investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Matrix Service during the 4th quarter worth about $45,000. Quarry LP acquired a new position in Matrix Service during the third quarter valued at approximately $53,000. BNP Paribas Financial Markets grew its stake in 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 purchased a new position in shares of Matrix Service in the 3rd quarter valued at $108,000. Finally, Net Worth Advisory Group acquired a new position in shares of Matrix Service during the 3rd quarter valued at $125,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.