Matrix Service Company (NASDAQ:MTRX) Overbought, but Is It Time to Sell?

Analysts expect next quarter's EPS will be $0.11 and the next full year EPS is projected to be $1.04. The count of Hold ratings in that period was 0.

For this year, Matrix Service Company (NASDAQ:MTRX) is performing -36.34%.

A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Matrix Service Company from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 3rd. Finally, Stephens reissued a hold rating on shares of Matrix Service in a research note on Monday, May 15th. Finally, TheStreet lowered Matrix Service from a "c-" rating to a "d+" rating in a research report on Wednesday, May 24th. The analyst recommendations from a month ago are 3 Buy, 0 Overweight, 0 Sell, 0 Hold and 0 Underweight. The consensus rating is 2, indicating analysts in general look favorably on the company's future prospects.

Matrix Service Company (NASDAQ:MTRX) shares have moved into overbought range as the 14-day RSI reading reached 91.12 after the recent close. If you are reading this piece on another publication, it was illegally copied and republished in violation of USA and worldwide copyright & trademark law. Matrix Service now has an average rating of Hold.

In other Matrix Service Company news, insider James P. Ryan sold 10,000 shares of the business's stock in a transaction on Friday, November 18th. Following the completion of the transaction, the insider now owns 77,528 shares in the company, valued at approximately $1,518,773.52. The stock's 50-day moving average price is $10.79 and its 200-day moving average price is $11.82. That puts the market capitalization at $376.28 mln.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, September 6th.

As of the last earnings report the EPS was $0.37 and is expected to be $0.60 for the current year with 26,600,000 shares presently outstanding. Matrix Service had a negative net margin of 0.02% and a negative return on equity of 0.06%. The business had revenue of $291.84 million for the quarter, compared to the consensus estimate of $281.82 million. Short interest increased 892,678 over that period. The company's revenue for the quarter was up 7.0% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the company. As of quarter end Quadrant Capital Group LLC had acquired a total of 744 shares growing its stake by 1,144.6%. Arizona State Retirement System raised its stake in shares of Matrix Service by 1.5% in the 1st quarter. BlackRock Inc. raised its position in shares of Matrix Service Company by 545.5% in the second quarter. The value of the total investment in Matrix Service Company increased from $7,633,000 to $8,455,000 a change of $822,000 quarter to quarter. Chartwell Investment Partners, LLC now controls 106,113 shares valued at $992,000. Thrivent Financial for Lutherans raised its position in shares of Matrix Service Company by 5.2% in the second quarter.

Matrix Service Company, launched on October 13, 1989, is involved in providing engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets.

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