Mistras Group (NYSE:MG) was downgraded by Zacks Investment Research from a “buy” 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. “
Several other brokerages have also recently weighed in on MG. ValuEngine upgraded shares of Mistras Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Sidoti upgraded shares of Mistras Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.50.
Shares of Mistras Group stock opened at $19.27 on Thursday. The company has a current ratio of 2.14, a quick ratio of 2.01 and a debt-to-equity ratio of 0.57. Mistras Group has a twelve month low of $17.78 and a twelve month high of $23.83. The firm has a market capitalization of $614.91 million, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 0.83 and a beta of 1.36.
Mistras Group (NYSE:MG) last issued its quarterly earnings data on Monday, August 6th. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Mistras Group had a net margin of 0.38% and a return on equity of 6.34%. The company had revenue of $191.79 million for the quarter, compared to analysts’ expectations of $175.40 million. As a group, sell-side analysts predict that Mistras Group will post 0.78 earnings per share for the current fiscal year.
In related news, insider Sotirios J. Vahaviolos sold 321,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $21.92, for a total value of $7,036,320.00. Following the transaction, the insider now owns 10,244,313 shares in the company, valued at $224,555,340.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 43.50% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in MG. We Are One Seven LLC acquired a new position in shares of Mistras Group during the third quarter valued at about $217,000. Atria Investments LLC raised its holdings in shares of Mistras Group by 37.2% during the third quarter. Atria Investments LLC now owns 14,221 shares of the technology company’s stock valued at $308,000 after purchasing an additional 3,858 shares during the period. United Services Automobile Association raised its holdings in shares of Mistras Group by 17.5% during the second quarter. United Services Automobile Association now owns 418,407 shares of the technology company’s stock valued at $7,900,000 after purchasing an additional 62,310 shares during the period. Northern Trust Corp raised its holdings in shares of Mistras Group by 6.2% during the second quarter. Northern Trust Corp now owns 215,329 shares of the technology company’s stock valued at $4,065,000 after purchasing an additional 12,636 shares during the period. Finally, California Public Employees Retirement System acquired a new position in shares of Mistras Group during the second quarter valued at about $232,000. Institutional investors and hedge funds own 58.32% 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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