DA Davidson Increases Matrix Service (NASDAQ:MTRX) Price Target to $20.00

Matrix Service (NASDAQ:MTRX) had its price objective increased by stock analysts at DA Davidson from $18.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 30.12% from the stock’s previous close. DA Davidson also issued estimates for Matrix Service’s FY2026 earnings at $1.25 EPS.

Separately, StockNews.com upgraded shares of Matrix Service from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th.

Matrix Service Stock Performance

Shares of MTRX opened at $15.37 on Tuesday. The firm has a market capitalization of $423.60 million, a P/E ratio of -12.60 and a beta of 1.28. Matrix Service has a 52 week low of $8.61 and a 52 week high of $15.75. The stock has a 50 day moving average price of $13.28 and a two-hundred day moving average price of $11.85.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, equities analysts forecast that Matrix Service will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTRX. Harvey Partners LLC lifted its position in Matrix Service by 8.2% during the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock valued at $17,468,000 after purchasing an additional 115,000 shares during the last quarter. Needham Investment Management LLC increased its stake in shares of Matrix Service by 38.5% in the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock worth $16,373,000 after buying an additional 395,000 shares during the period. Royce & Associates LP raised its stake in shares of Matrix Service by 4.0% during the fourth quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock valued at $10,751,000 after acquiring an additional 34,860 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Matrix Service by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after buying an additional 4,709 shares during the period. Finally, Portolan Capital Management LLC boosted its holdings in Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock valued at $5,869,000 after acquiring an additional 129,989 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

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.