Analyst Rating Flashback: Matrix Service Down 9.9% Since Downgraded 7 Days Ago (MTRX)

Published on Tue, 02/26/2013 - 10:12
By Adrienne Chilton in Analyst reflections, MTRX, analyst reflections, matrix service, nasdaq:mtrx

A week ago, Sidoti downgraded Matrix Service from Buy to Neutral. Matrix Service shares are selling at $15.32, 9.9% below the $17.00 price point of one week ago.

Matrix Service share prices have moved between a 52-week high of $17.21 and a 52-week low of $7.34 and are now trading 111% above that low price at $15.46 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 2.0%.

Matrix Service has overhead space with shares priced $15.46, or 17.5% below the average consensus analyst price target of $18.75. The stock should discover initial support at its 50-day moving average (MA) of $13.49 and subsequent support at its 200-day MA of $11.50.

Matrix Service Company provides specialized on-site maintenance and construction services for petroleum refining and storage facilities, as well as water storage facilities for the private industry sector. The Company's services include the maintenance, inspection, design, repair, and construction of aboveground storage tanks.

By Adrienne Chilton
achilton@fnno.com

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