Market Overview

UPDATE: DA Davidson Initiates Matrix Service Company at Buy on Growth, Valuation

Share:
Related MTRX
Mid-Day Market Update: Crude Oil Dips Over 6%; Matrix Service Shares Rise On Earnings Beat
Mid-Morning Market Update: Markets Open Lower; Dollar Tree Posts Q2 Loss
Matrix Service Company's (MTRX) CEO John Hewitt Q4 2015 Results - Earnings Call Transcript (Seeking Alpha)

DA Davidson initiated coverage on Matrix Service Company (NASDAQ: MTRX) with a Buy rating and a $13 price target.

DA Davidson noted, "The company has undergone notable management turnover over the past several years. The new team has launched a new growth plan calling for 12%-15% annual growth over the next five years, with plans for acquisitions. … As the benefits of management's growth strategy become more apparent and market conditions continue to support growth in backlog, revenue, and earnings, we expect the shares to trade closer to long term historical ranges and E&C peers."

Matrix Service Company closed at $10.71 on Tuesday.

Latest Ratings for MTRX

DateFirmActionFromTo
Jan 2015Johnson RiceDowngradesOverweight
Nov 2014Stifel NicolausMaintainsBuy
Sep 2014KeyBancUpgradesHoldBuy

View More Analyst Ratings for MTRX
View the Latest Analyst Ratings

Posted-In: DA DavidsonAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (MTRX)

Get Benzinga's Newsletters