ValuEngine downgraded shares of Matrix Service Company (NASDAQ:MTRX) from a hold rating to a sell rating in a report released on Tuesday morning.

Other analysts have also recently issued reports about the stock. Stephens reissued a hold rating on shares of Matrix Service in a research note on Monday, May 15th. KeyCorp reissued a hold rating on shares of Matrix Service in a research note on Monday, August 28th. Zacks Investment Research cut shares of Matrix Service from a hold rating to a strong sell rating in a research note on Wednesday, May 17th. BidaskClub raised shares of Matrix Service from a sell rating to a hold rating in a research note on Saturday, August 5th. Finally, TheStreet cut shares of Matrix Service from a c- rating to a d+ rating in a research note on Wednesday, May 24th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold.

Matrix Service (NASDAQ MTRX) opened at 14.50 on Tuesday. The stock’s 50 day moving average price is $11.23 and its 200 day moving average price is $11.84. Matrix Service has a 12 month low of $7.80 and a 12 month high of $23.45. The firm’s market capitalization is $385.70 million.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). The firm had revenue of $291.84 million for the quarter, compared to the consensus estimate of $281.82 million. Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. Matrix Service’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. On average, analysts forecast that Matrix Service will post $0.60 earnings per share for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in MTRX. Mason Street Advisors LLC grew its stake in shares of Matrix Service by 7.3% during the first quarter. Mason Street Advisors LLC now owns 6,219 shares of the oil and gas company’s stock valued at $103,000 after purchasing an additional 421 shares during the last quarter. Capstone Asset Management Co. grew its stake in shares of Matrix Service by 1.7% during the second quarter. Capstone Asset Management Co. now owns 13,623 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 230 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Matrix Service by 4.2% during the first quarter. Envestnet Asset Management Inc. now owns 7,793 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 315 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Matrix Service by 22.5% during the second quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock valued at $153,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Cullen Capital Management LLC bought a new stake in shares of Matrix Service during the second quarter valued at approximately $157,000. 85.55% of the stock is currently owned by institutional investors and hedge funds.

About Matrix Service

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 segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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