Our eagle is flying high on record revenue and a solid earnings report.
Shares of Tulsa-based Matrix Services soared 17 percent last week on the strength of a quarterly report that saw profits nearly double. The company, which performs a lot of building and maintenance to the energy industry, also boosted its 2014 outlook for revenues and profits.
MTRX finished the week at $30.77 after setting a new 52-week high on Friday.
Matrix is well-positioned to benefit from the increased drilling, production and movement of oil and natural gas across the nation.
CEO John Hewitt said as much, telling analysts management sees opportunities to continue the business’ growth.
Traders last week apparently agreed.
Saw a headline recently noting a particular market segment recorded its worst day of the year. Relax, Francis. It’s February.
Shares of our beagle, ADDvantage Technologies, registered their worst week of the year, slipping 11 percent to close Friday at $2.93.
The Broken Arrow-based cable TV equipment firm announced last week that it would sell a subsidiary firm for $2 million in cash. CEO David Humphrey said the deal would allow the company to focus on what it does best.
The market didn’t display the same optimism.
However, for long-term investors, the stock is about where it was a month ago — just before it earned eagle status.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.