Matrix Service (NASDAQ:MTRX) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Matrix Service passed above its 200-day moving average (200‑day = $12.20) with an intraday high of $12.43, though it last traded at $12.01 and was down about 1.9% on roughly 195,800 shares.
• Analyst coverage is mixed—one Strong Buy, one Buy and one Sell—resulting in a consensus Moderate Buy rating and an average price target of $20.50.
• The company missed quarterly estimates (EPS ($0.02) vs. $0.04 expected; revenue $210.5M vs. $215.4M), shows negative profitability metrics (P/E -17.66, net margin -2.3%), and reported an insider sale while institutions own about 78.38% of the shares.

Matrix Service Company (NASDAQ:MTRX - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.20 and traded as high as $12.43. Matrix Service shares last traded at $12.01, with a volume of 195,809 shares trading hands.

Analyst Upgrades and Downgrades

MTRX has been the subject of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Matrix Service in a research note on Thursday, January 22nd. DA Davidson reissued a "buy" rating and issued a $17.00 target price on shares of Matrix Service in a report on Friday, February 6th. Finally, Northland Securities set a $24.00 target price on Matrix Service in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Matrix Service Stock Down 1.9%

The company has a market cap of $337.82 million, a price-to-earnings ratio of -17.66, a price-to-earnings-growth ratio of 2.83 and a beta of 0.94. The firm has a 50-day simple moving average of $11.30 and a 200 day simple moving average of $12.20.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). The firm had revenue of $210.51 million for the quarter, compared to analyst estimates of $215.42 million. Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%. As a group, research analysts expect that Matrix Service Company will post 0.24 EPS for the current year.

Insider Activity

In other news, VP Nancy E. Austin sold 4,193 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $11.29, for a total value of $47,338.97. Following the transaction, the vice president owned 106,138 shares of the company's stock, valued at approximately $1,198,298.02. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new position in shares of Matrix Service in the third quarter valued at approximately $1,308,000. CenterBook Partners LP increased its holdings in shares of Matrix Service by 81.7% in the third quarter. CenterBook Partners LP now owns 407,721 shares of the company's stock valued at $5,333,000 after purchasing an additional 183,288 shares during the period. Country Trust Bank acquired a new position in shares of Matrix Service in the fourth quarter valued at approximately $1,552,000. Azarias Capital Management L.P. increased its holdings in shares of Matrix Service by 15.1% in the fourth quarter. Azarias Capital Management L.P. now owns 730,767 shares of the company's stock valued at $8,550,000 after purchasing an additional 95,924 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Matrix Service by 44.1% in the third quarter. JPMorgan Chase & Co. now owns 306,848 shares of the company's stock valued at $4,014,000 after purchasing an additional 93,927 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

About Matrix Service

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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