Matrix Service Co. (MTRX) Stock Price Down 2.1%
Matrix Service Co. (NASDAQ:MTRX) shares dropped 2.1% on Wednesday . The stock traded as low as $16.83 and last traded at $16.88, with a volume of 84,753 shares traded. The stock had previously closed at $17.25.
MTRX has been the subject of several research analyst reports. Zacks Investment Research lowered Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 11th. Barclays PLC lowered their price objective on Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Finally, Avondale Partners raised Matrix Service from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report 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 company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.63.
The company’s 50 day moving average price is $17.11 and its 200 day moving average price is $17.17. The stock has a market capitalization of $445.54 million and a price-to-earnings ratio of 14.81.
A hedge fund recently raised its stake in Matrix Service stock. Mutual of America Capital Management LLC raised its stake in shares of Matrix Service Co. (NASDAQ:MTRX) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,794 shares of the company’s stock after buying an additional 4,871 shares during the period. Mutual of America Capital Management LLC owned approximately 0.23% of Matrix Service worth $1,249,000 as of its most recent SEC filing.
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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