Key Points
- CEO John Hewitt sold 36,000 shares of Matrix Service at an average price of $12.50, totaling $450,000. After the sale, he still owned 581,806 shares, and the transaction reduced his stake by 5.83%.
- Matrix Service beat quarterly EPS estimates for its latest report, posting $0.13 per share versus analyst expectations of $0.07. However, revenue came in below estimates at $206.71 million versus $231.52 million projected.
- Analyst sentiment is mixed but generally constructive, with Sidoti raising some near-term earnings estimates while cutting others further out. The stock currently carries a consensus Moderate Buy rating with an average target price of $20.50.
Matrix Service Company (NASDAQ:MTRX - Get Free Report) CEO John Hewitt sold 36,000 shares of Matrix Service stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.50, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer owned 581,806 shares in the company, valued at $7,272,575. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Matrix Service Stock Performance
Matrix Service stock opened at $12.17 on Wednesday. The business's 50-day simple moving average is $11.71 and its 200-day simple moving average is $12.19. The firm has a market capitalization of $342.39 million, a PE ratio of -22.96, a PEG ratio of 2.74 and a beta of 1.02. Matrix Service Company has a 52 week low of $9.88 and a 52 week high of $16.10.
Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.06. The business had revenue of $206.71 million for the quarter, compared to analyst estimates of $231.52 million. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%. Research analysts forecast that Matrix Service Company will post 0.25 earnings per share for the current year.
Key Stories Impacting Matrix Service
Here are the key news stories impacting Matrix Service this week:
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on MTRX shares. Northland Securities set a $24.00 price objective on Matrix Service in a report on Wednesday, February 11th. DA Davidson restated a "buy" rating and issued a $17.00 price objective on shares of Matrix Service in a research report on Friday, February 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Matrix Service in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Matrix Service presently has a consensus rating of "Moderate Buy" and an average target price of $20.50.
Check Out Our Latest Report on Matrix Service
Hedge Funds Weigh In On Matrix Service
Large investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Matrix Service in the 3rd quarter valued at about $28,000. BNP Paribas Financial Markets grew its position in shares of Matrix Service by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company's stock worth $34,000 after purchasing an additional 1,032 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Matrix Service by 133.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company's stock worth $45,000 after purchasing an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Matrix Service during the 3rd quarter worth approximately $67,000. Finally, Daytona Street Capital LLC acquired a new stake in shares of Matrix Service during the 4th quarter worth approximately $78,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Matrix Service Company Profile
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Get Free Report)
Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.
The company's service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.
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