DA Davidson Increases Earnings Estimates for Matrix Service

Matrix Service (NASDAQ:MTRX) – DA Davidson boosted their FY2026 earnings per share (EPS) estimates for Matrix Service in a research report issued to clients and investors on Tuesday, February 11th. DA Davidson analyst B. Thielman now expects that the company will post earnings per share of $1.25 for the year, up from their previous forecast of $1.17. DA Davidson has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Matrix Service’s current full-year earnings is ($0.04) per share.

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

Matrix Service Stock Up 2.7 %

MTRX opened at $15.48 on Wednesday. The company has a fifty day moving average of $13.23 and a two-hundred day moving average of $11.82. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate 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%.

Hedge Funds Weigh In On Matrix Service

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTRX. Harvey Partners LLC raised its position in shares of Matrix Service by 8.2% during the 3rd quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock worth $17,468,000 after purchasing an additional 115,000 shares during the last quarter. Needham Investment Management LLC increased its stake in Matrix Service by 38.5% during the 3rd 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 in the last quarter. Royce & Associates LP raised its holdings 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 position in shares of Matrix Service by 0.8% in the third quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock valued at $6,898,000 after acquiring an additional 4,709 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its stake in shares of Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock worth $5,869,000 after acquiring an additional 129,989 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.