Matrix Service Co. (NASDAQ:MTRX)’s share price dropped 3.4% on Monday . The stock traded as low as $16.16 and last traded at $16.22, with a volume of 188,139 shares. The stock had previously closed at $16.79.

MTRX has been the topic of several recent research reports. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 11th. Barclays PLC lowered their price objective on shares of Matrix Service from $41.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, June 6th. Finally, Avondale Partners upgraded shares of Matrix Service from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, May 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.63.

The company has a 50 day moving average price of $16.64 and a 200-day moving average price of $17.33. The stock has a market cap of $431.70 million and a P/E ratio of 14.35.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Thursday, May 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.13. During the same quarter in the prior year, the business earned ($0.11) EPS. The business earned $309.40 million during the quarter, compared to the consensus estimate of $317.86 million. The company’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Matrix Service Co. will post $1.04 earnings per share for the current year.

In other Matrix Service news, Director Jim W. Mogg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $15.15 per share, for a total transaction of $151,500.00. Following the completion of the purchase, the director now directly owns 21,990 shares in the company, valued at $333,148.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several hedge funds have bought and sold shares of the stock. GSA Capital Partners LLP increased its stake in Matrix Service by 0.8% in the fourth quarter. GSA Capital Partners LLP now owns 56,620 shares of the company’s stock worth $1,163,000 after buying an additional 422 shares during the period. Mutual of America Capital Management LLC increased its stake in Matrix Service by 8.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 60,794 shares of the company’s stock worth $1,249,000 after buying an additional 4,871 shares during the period. Whitebox Advisors LLC acquired a new stake in Matrix Service during the fourth quarter worth $1,269,000. Morgan Stanley increased its stake in Matrix Service by 27.1% in the fourth quarter. Morgan Stanley now owns 69,548 shares of the company’s stock worth $1,429,000 after buying an additional 14,818 shares during the period. Finally, Bank of Montreal Can increased its stake in Matrix Service by 261.9% in the fourth quarter. Bank of Montreal Can now owns 72,675 shares of the company’s stock worth $1,493,000 after buying an additional 52,594 shares during the period.

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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