DA Davidson Reaffirms Buy Rating for Matrix Service (NASDAQ:MTRX)

DA Davidson restated their buy rating on shares of Matrix Service (NASDAQ:MTRX) in a research note published on Tuesday morning, Benzinga reports. DA Davidson currently has a $18.00 target price on the stock. DA Davidson also issued estimates for Matrix Service’s Q1 2025 earnings at ($0.09) EPS.

Matrix Service Price Performance

Shares of MTRX stock opened at $10.67 on Tuesday. Matrix Service has a 1-year low of $8.61 and a 1-year high of $13.90. The firm has a market cap of $291.39 million, a PE ratio of -14.04, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The company has a 50-day moving average of $9.69 and a two-hundred day moving average of $10.98.

Institutional Trading of Matrix Service

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in Matrix Service during the second quarter worth $83,000. The Manufacturers Life Insurance Company acquired a new position in Matrix Service during the 2nd quarter worth about $110,000. Dynamic Technology Lab Private Ltd purchased a new position in Matrix Service during the 4th quarter valued at about $126,000. XTX Topco Ltd grew its position in Matrix Service by 66.3% in the 2nd quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock valued at $208,000 after acquiring an additional 8,344 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Matrix Service by 38.8% in the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after acquiring an additional 8,059 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.