Matrix Service (NASDAQ:MTRX) Price Target Lowered to $17.00 at DA Davidson

Key Points

• DA Davidson has lowered the price target for Matrix Service (NASDAQ:MTRX) from $18.00 to $17.00, while maintaining a "buy" rating, suggesting a potential upside of 36.38% from its previous close.
• Matrix Service reported a quarterly loss of ($0.28) earnings per share (EPS), falling short of analyst expectations, with revenues also underperforming at $216.38 million against estimates of $232.25 million.
• Institutional investors hold a substantial majority, with 78.38% of the stock owned by hedge funds and institutional investors, indicating strong institutional support.

Matrix Service (NASDAQ:MTRX - Get Free Report) had its price target lowered by equities researchers at DA Davidson from $18.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 36.38% from the company's previous close.

Matrix Service Price Performance

Shares of Matrix Service stock opened at $12.47 on Thursday. Matrix Service has a 1 year low of $9.33 and a 1 year high of $16.10. The business has a 50-day moving average of $14.59 and a two-hundred day moving average of $13.03. The company has a market capitalization of $344.16 million, a P/E ratio of -11.90, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.30). The business had revenue of $216.38 million during the quarter, compared to the consensus estimate of $232.25 million. Matrix Service had a negative return on equity of 16.92% and a negative net margin of 3.83%.During the same quarter last year, the company earned ($0.14) earnings per share. Matrix Service has set its FY 2026 guidance at EPS. On average, equities analysts anticipate that Matrix Service will post -0.26 EPS for the current fiscal year.

Institutional Trading of Matrix Service

A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System bought a new position in shares of Matrix Service during the first quarter worth approximately $30,000. Tower Research Capital LLC TRC increased its stake in shares of Matrix Service by 180.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock worth $32,000 after purchasing an additional 1,746 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Matrix Service by 68.9% during the second 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 during the period. Brooklyn Investment Group increased its stake in shares of Matrix Service by 2,026.3% during the first quarter. Brooklyn Investment Group now owns 3,402 shares of the company's stock worth $42,000 after purchasing an additional 3,242 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Matrix Service by 133.9% during the second 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 during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

About Matrix Service

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.