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Shares of Matrix Service Under Pressure, Down 1.6%

Published on Mon, 03/18/2013 - 12:28
By Peter Chu

Matrix Service (NASDAQ:MTRX) is one of today's notable stocks in decline, down 1.6% to $15.49. The Dow Jones Industrial Average is now trading fractionally lower to 14,492 and the S&P is trading 0.3% lower to 1,555.

Matrix Service (NASDAQ:MTRX) has potential upside of 21.0% based on a current price of $15.49 and analysts' consensus price target of $18.75. The stock should find initial support at its 50-day moving average (MA) of $14.74 and further support at its 200-day MA of $11.84.

In the past 52 weeks, shares of Matrix Service have traded between a low of $7.34 and a high of $17.21 and are now at $15.49, which is 111% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has risen 1.1%.

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 Peter Chu
pchu@fnno.com

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