DA Davidson Issues Pessimistic Forecast for Matrix Service (NASDAQ:MTRX) Stock Price

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 target price reduced by equities research analysts at DA Davidson from $18.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 32.92% from the stock's previous close. DA Davidson also issued estimates for Matrix Service's FY2026 earnings at $0.93 EPS.

Matrix Service Price Performance

Matrix Service stock traded down $0.20 during midday trading on Thursday, reaching $12.79. The stock had a trading volume of 109,407 shares, compared to its average volume of 199,678. The firm's fifty day simple moving average is $14.54 and its two-hundred day simple moving average is $13.03. Matrix Service has a twelve month low of $9.33 and a twelve month high of $16.10. The firm has a market cap of $353.13 million, a price-to-earnings ratio of -12.19, a PEG ratio of 1.05 and a beta of 1.13.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.30). Matrix Service had a negative return on equity of 17.21% and a negative net margin of 3.83%.The firm had revenue of $216.38 million during the quarter, compared to analyst estimates of $232.25 million. During the same period in the prior year, the business posted ($0.14) EPS. Matrix Service has set its FY 2026 guidance at EPS. As a group, sell-side analysts predict that Matrix Service will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Matrix Service

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new position in shares of Matrix Service during the 1st quarter valued at $30,000. Tower Research Capital LLC TRC raised its holdings in shares of Matrix Service by 180.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock valued at $32,000 after purchasing an additional 1,746 shares in the last quarter. BNP Paribas Financial Markets raised its holdings 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 valued at $34,000 after purchasing an additional 1,032 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Matrix Service by 2,026.3% during the 1st quarter. Brooklyn Investment Group now owns 3,402 shares of the company's stock valued at $42,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $45,000 after purchasing an additional 1,893 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Matrix Service Company Profile

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.