Matrix Service Co. (NASDAQ:MTRX) fell 1.6% during mid-day trading on Monday . The stock traded as low as $16.65 and last traded at $17.66, with a volume of 71,911 shares trading hands. The stock had previously closed at $17.94.

Several research firms recently issued reports on MTRX. Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Barclays PLC lowered their price target on Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, June 6th. Finally, Avondale Partners upgraded Matrix Service from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Friday, May 6th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.63.

The company has a 50-day moving average of $16.57 and a 200-day moving average of $17.41. The company has a market cap of $470.82 million and a PE ratio of 15.65.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.29 by $0.13. During the same period last year, the business earned ($0.11) EPS. The firm earned $309.40 million during the quarter, compared to analysts’ expectations of $317.86 million. Matrix Service’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that Matrix Service Co. will post $1.04 EPS for the current year.

In other news, Director Jim W. Mogg bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $15.15 per share, with a total value of $151,500.00. Following the acquisition, the director now owns 21,990 shares of the company’s stock, valued at approximately $333,148.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Other hedge funds and institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Matrix Service by 117.5% in the fourth quarter. Nationwide Fund Advisors now owns 229,486 shares of the company’s stock valued at $4,714,000 after buying an additional 123,958 shares in the last quarter. Sei Investments Co. increased its position in shares of Matrix Service by 2,581.8% in the fourth quarter. Sei Investments Co. now owns 155,627 shares of the company’s stock valued at $3,197,000 after buying an additional 149,824 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Matrix Service by 13.9% in the fourth quarter. Principal Financial Group Inc. now owns 529,013 shares of the company’s stock valued at $10,866,000 after buying an additional 64,615 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Matrix Service by 19.8% in the fourth quarter. Wells Fargo & Company MN now owns 370,428 shares of the company’s stock valued at $7,608,000 after buying an additional 61,272 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Matrix Service by 261.9% in the fourth quarter. Bank of Montreal Can now owns 72,675 shares of the company’s stock valued at $1,493,000 after buying an additional 52,594 shares in the last quarter.

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.

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