BidaskClub downgraded shares of Matrix Service (NASDAQ:MTRX) from a strong-buy rating to a buy rating in a report issued on Thursday.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Matrix Service from a hold rating to a strong sell rating in a report on Saturday, May 19th. ValuEngine upgraded Matrix Service from a buy rating to a strong-buy rating in a report on Saturday, June 2nd. Finally, Citigroup upped their price target on Matrix Service from $37.00 to $64.00 and gave the stock a buy rating in a report on Thursday, July 5th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $41.00.

NASDAQ MTRX traded up $0.10 during trading hours on Thursday, hitting $21.05. 4,791 shares of the company were exchanged, compared to its average volume of 153,060. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.65 and a quick ratio of 1.62. Matrix Service has a 52-week low of $12.76 and a 52-week high of $21.95. The company has a market cap of $557.79 million, a price-to-earnings ratio of -2,070.00 and a beta of 0.95.

In other news, insider James P. Ryan sold 2,774 shares of the stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $18.95, for a total value of $52,567.30. Following the transaction, the insider now owns 70,290 shares in the company, valued at approximately $1,331,995.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John R. Hewitt sold 17,816 shares of the stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $19.25, for a total value of $342,958.00. Following the completion of the transaction, the chief executive officer now owns 261,213 shares in the company, valued at approximately $5,028,350.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,192 shares of company stock worth $1,679,038. Company insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Matrix Service by 0.6% in the 1st quarter. Northern Trust Corp now owns 777,631 shares of the oil and gas company’s stock valued at $10,654,000 after acquiring an additional 4,600 shares during the last quarter. Mackay Shields LLC increased its holdings in shares of Matrix Service by 16.0% in the 2nd quarter. Mackay Shields LLC now owns 153,600 shares of the oil and gas company’s stock valued at $2,819,000 after acquiring an additional 21,200 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Matrix Service by 366.4% in the 1st quarter. Prudential Financial Inc. now owns 415,820 shares of the oil and gas company’s stock valued at $5,697,000 after acquiring an additional 326,668 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Matrix Service by 7.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 366,683 shares of the oil and gas company’s stock valued at $5,024,000 after acquiring an additional 24,234 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Matrix Service by 0.7% in the 1st quarter. BlackRock Inc. now owns 3,656,817 shares of the oil and gas company’s stock valued at $50,098,000 after acquiring an additional 26,261 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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