Matrix Service Co. (NASDAQ:MTRX) traded with an addition of $0.9 to $11.98 on Thursday, an upside of 8.12 percent. An average of 352,108 shares of common stock have been traded in the last five days. There was a gain of $1.84 in the past week, and it reached a new high 43 times over the past 12 months. The last 20 days have seen an average of 214,262 shares traded, while the 50-day average volume stands at 137,671.
MTRX stock has increased by 45.74% in the last month. The company shares reached their 1-month lowest point of $7.75 on 09/11/23. With the stock rallying to its 52-week high on 09/28/23, shares of the company touched a low of $3.50 and a high of $11.09 in 52 weeks. It has reached a new high 20 times so far this year and achieved 92.60% or $5.72 in price. In spite of this, the price is up 8.03% from the 52-week high.
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Valuation Metrics
Matrix Service Co. (MTRX) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 1.38. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.41, the price-to-book (PB) ratio at 1.79, and the price-to-cash flow ratio at 261.34.
Financial Health
The quick ratio of Matrix Service Co. for the three months ended June 30 was 1.36, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.17 and a total debt to equity ratio of 0.19 for the quarter ending June 30. Its gross profit as reported stood at $30.82 million compared to revenue of $795.02 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Matrix Service Co.’s return on assets was -12.45%.
Earnings Surprise
For the three-month period that ended June 30, Matrix Service Co. had $10.0 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$0.34 million in the quarter, while revenues of -$12.69 million were grew 4058.82%. The analyst consensus anticipated Matrix Service Co.’s latest quarter earnings to come in at -$0.21 per share, but it turned out to be -$0.11, a 47.60% surprise. For the quarter, EBITDA amounted to $0.6 million. Shareholders own equity worth $27.21 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Matrix Service Co. (MTRX) price momentum. RSI 9-day as of the close on 27 September was 92.97%, suggesting the stock is Overbought, with historical volatility in this time frame at 25.67%.
As of today, MTRX’s price is $10.97 +18.15% or $1.84 from its 5-day moving average. MTRX is currently trading +40.04% higher than its 20-day SMA and +119.17% higher than its 100-day SMA. However, the stock’s current price level is +74.63% above the SMA50 and +123.27% above the SMA200.
The stochastic %K and %D were 99.04% and 98.44%, respectively, and the average true range (ATR) was 0.59. With the 14-day stochastic at 99.41% and the average true range at 0.55, the RSI (14) stands at 87.69%. The stock has reached 0.86 on the 9-day MACD Oscillator while the 14-day reading was at 1.38.
Analyst Ratings
Sidoti upgraded Matrix Service Co. (NASDAQ: MTRX) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Matrix Service Co. (MTRX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MTRX, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is MTRX’s price target for the next 12 months?
Analysts predict a range of price targets between $14.00 and $15.00, with a median target of $14.50. Taking a look at these predictions, the average price target given by analysts for Matrix Service Co. (MTRX) stock is $14.50.
