Zacks Investment Research upgraded shares of Mistras Group (NYSE:MG) from a strong sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Mistras Group, Inc. is a global provider of technology-enabled, non-destructive testing (NDT) solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. The Company delivers a portfolio of solutions, ranging from routine NDT inspections to plant-wide asset integrity assessment and management solutions. The Company serves a global customer base, including companies in the oil and gas, fossil and nuclear power generation and transmission, public infrastructure, chemicals, aerospace and defense, transportation, primary metals and metalworking, pharmaceuticals and food processing industries. “
Other research analysts also recently issued reports about the stock. Canaccord Genuity began coverage on shares of Mistras Group in a research note on Wednesday, November 7th. They issued a hold rating and a $20.00 target price on the stock. ValuEngine downgraded shares of Mistras Group from a hold rating to a sell rating in a research report on Monday, November 12th. Finally, BMO Capital Markets reissued a buy rating on shares of Mistras Group in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Mistras Group presently has an average rating of Hold and a consensus price target of $22.33.
Shares of NYSE MG opened at $15.65 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.56. Mistras Group has a 52 week low of $13.66 and a 52 week high of $23.60. The firm has a market capitalization of $443.56 million, a P/E ratio of 36.40, a PEG ratio of 0.73 and a beta of 1.31.
Mistras Group (NYSE:MG) last issued its earnings results on Monday, November 5th. The technology company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). Mistras Group had a return on equity of 6.42% and a net margin of 1.17%. The firm had revenue of $182.17 million during the quarter, compared to analysts’ expectations of $181.50 million. On average, analysts anticipate that Mistras Group will post 0.63 earnings per share for the current fiscal year.
In other Mistras Group news, Director Manuel N. Stamatakis bought 25,000 shares of the company’s stock in a transaction dated Thursday, December 20th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $362,500.00. Following the acquisition, the director now owns 77,392 shares in the company, valued at approximately $1,122,184. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Manuel N. Stamatakis bought 15,000 shares of the company’s stock in a transaction dated Tuesday, December 18th. The shares were acquired at an average price of $14.28 per share, for a total transaction of $214,200.00. Following the acquisition, the director now owns 77,392 shares in the company, valued at approximately $1,105,157.76. The disclosure for this purchase can be found here. 43.50% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Mistras Group by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,495,884 shares of the technology company’s stock valued at $32,416,000 after buying an additional 48,577 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Mistras Group by 3.4% during the 3rd quarter. Vanguard Group Inc now owns 1,495,884 shares of the technology company’s stock valued at $32,416,000 after buying an additional 48,577 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mistras Group by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,319,091 shares of the technology company’s stock valued at $28,584,000 after buying an additional 20,886 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Mistras Group by 7.3% during the 3rd quarter. BlackRock Inc. now owns 1,216,696 shares of the technology company’s stock valued at $26,364,000 after buying an additional 82,663 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Mistras Group by 0.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 907,995 shares of the technology company’s stock valued at $19,676,000 after buying an additional 3,549 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.
Mistras Group Company Profile
Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.
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