Today’s Price Action: After Today’s Huge Decline, Is Matrix Service Co’s Near-Term Analysis Negative?

Today's Price Action: After Today's Huge Decline, Is Matrix Service Co's Near Term Analysis Negative?

The stock of Matrix Service Co (NASDAQ:MTRX) is a huge mover today! About 158,986 shares traded hands or 31.10% up from the average. Matrix Service Co (NASDAQ:MTRX) has risen 3.22% since April 6, 2016 and is uptrending. It has outperformed by 1.26% the S&P500.
The move comes after 9 months negative chart setup for the $478.99M company. It was reported on Nov, 8 by Barchart.com. We have $14.83 PT which if reached, will make NASDAQ:MTRX worth $62.27M less.

Matrix Service Co (NASDAQ:MTRX) Ratings Coverage

Out of 9 analysts covering Matrix Service (NASDAQ:MTRX), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. Matrix Service has been the topic of 11 analyst reports since September 1, 2015 according to StockzIntelligence Inc. Citigroup upgraded Matrix Service Co (NASDAQ:MTRX) on Wednesday, January 13 to “Buy” rating. The rating was initiated by DA Davidson with “Buy” on Friday, September 18. The stock of Matrix Service Co (NASDAQ:MTRX) has “Sector Weight” rating given on Thursday, February 11 by KeyBanc Capital Markets. The stock has “Buy” rating given by TheStreet on Wednesday, September 2. The stock has “Mkt Outperform” rating given by Avondale on Friday, May 6. The stock of Matrix Service Co (NASDAQ:MTRX) earned “Buy” rating by Stifel Nicolaus on Wednesday, September 2. On Monday, June 6 the stock rating was maintained by Barclays Capital with “Overweight”. Zacks upgraded Matrix Service Co (NASDAQ:MTRX) on Tuesday, September 1 to “Sell” rating.

According to Zacks Investment Research, “MATRIX SERVICE CO. provides specialized on-site maintenance and construction services for petroleum refining and storage facilities and water storage tanks and systems for the municipal and private industry sector. Owners of these facilities use the Company’s services in an effort to improve operating efficiencies and to comply with stringent environmental and safety regulations. Through its subsidiaries Matrix Service, Inc., San Luis Tank Piping Construction Co., Inc., and an affiliated company West Coast Industrial Coatings, Inc., Heath Engineering, Ltd.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.50, from 1.61 in 2016Q1. The ratio dropped, as 20 funds sold all Matrix Service Co shares owned while 51 reduced positions. 22 funds bought stakes while 57 increased positions. They now own 23.91 million shares or 2.71% less from 24.58 million shares in 2016Q1.
Ameriprise Financial reported 161,961 shares or 0% of all its holdings. Schwab Charles Inv Inc last reported 409,008 shares in the company. Of Virginia Limited Liability Com holds 0.07% or 16,000 shares in its portfolio. Teachers Advsrs Inc has 0.01% invested in the company for 400,693 shares. Nuveen Asset Ltd Liability reported 192,002 shares or 0.02% of all its holdings. The California-based California State Teachers Retirement has invested 0% in Matrix Service Co (NASDAQ:MTRX). Royal Bank & Trust Of Canada last reported 0% of its portfolio in the stock. The New York-based D E Shaw & has invested 0% in Matrix Service Co (NASDAQ:MTRX). Tfs Cap Ltd Liability holds 0.15% of its portfolio in Matrix Service Co (NASDAQ:MTRX) for 48,174 shares. The Missouri-based Century Cos Incorporated has invested 0.01% in Matrix Service Co (NASDAQ:MTRX). Legal & General Gru Public Ltd Co reported 6,418 shares or 0% of all its holdings. Texas Permanent School Fund has 0% invested in the company for 20,350 shares. Pacific Glob Inv Management Comm holds 1.13% or 295,475 shares in its portfolio. Tower Cap Limited Liability Corporation (Trc) last reported 415 shares in the company. The North Carolina-based Wedge Capital Mngmt L Lp Nc has invested 0.01% in Matrix Service Co (NASDAQ:MTRX).

Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 7 insider sales for $1.15 million net activity. HEWITT JOHN R also sold $303,440 worth of Matrix Service Co (NASDAQ:MTRX) on Monday, September 12. On Monday, September 12 the insider Cavanah Kevin S sold $49,323. On Friday, September 23 the insider Montalbano Joseph F sold $352,448. 5,416 shares were sold by RYAN JAMES P, worth $99,114. 325 shares were bought by MILLER JAMES HARRY, worth $4,908. 2,100 shares with value of $39,294 were sold by SHEETS JUSTIN D on Friday, September 30. The insider MOGG JIM W bought $151,511.

Another recent and important Matrix Service Co (NASDAQ:MTRX) news was published by Reuters.com which published an article titled: “BRIEF-Matrix Service Co reports Q3 earnings per share $0.16” on May 04, 2016.

MTRX Company Profile

Matrix Service Company, incorporated on October 13, 1989, is engaged in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Firm operates through four divisions: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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