Barclays Maintains Matrix Service Co to Overweight with Price Target $27.00

Brokerage firm Barclays Maintains its rating on Matrix Service Co(NASDAQ:MTRX). In a research note issued to the investors, the brokerage major Lowers the price-target to $27.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Jun 6, 2016.

Matrix Service Co (MTRX) shares turned negative on Fridays trading session with the shares closing down -0.46 points or -2.65% at a volume of 2,40,241. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.34. The peak price level was also seen at $17.34 while the days lowest was $16.88. Finally the shares closed at $16.88. The 52-week high of the shares is $26.22 while the 52-week low is $14.07. According to the latest information available, the market cap of the company is $449 M.

Matrix Service Co(MTRX) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $309.42M. Analysts had an estimated revenue of $317.89M. Earnings per share were $0.16. Analysts had estimated an EPS of $0.29.

Several Insider Transactions has been reported to the SEC. On May 13, 2016, James Harry Miller (director) purchased 325 shares at $15.10 per share price.Also, On May 13, 2016, Jim W Mogg (director) purchased 10,000 shares at $15.15 per share price.On Mar 14, 2016, James P Ryan (President, Matrix Service) sold 5,300 shares at $19.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Matrix Service Company provides engineering fabrication infrastructure construction and maintenance services primarily to the oil gas power petrochemical industrial mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities such as combined cycle plants and renewable energy installations. The Oil Gas & Chemical segment includes its traditional turnaround activities plant maintenance services and construction in the downstream petroleum industry. Its Storage Solutions segment includes new construction of crude and refined products aboveground storage tanks (ASTs) as well as maintenance services. The Industrial segment includes construction and maintenance work in the iron and steel and mining and minerals industries bulk material handling and fertilizer production facilities as well as work for clients in other industrial markets.

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