Wall Street Zen downgraded shares of Mistras Group (NYSE:MG – Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday.
MG has been the subject of several other research reports. Weiss Ratings raised shares of Mistras Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Roth Capital assumed coverage on shares of Mistras Group in a research note on Thursday, April 30th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Zacks Research downgraded shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Mistras Group Stock Up 0.7%
Mistras Group (NYSE:MG – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. Equities analysts expect that Mistras Group will post 1.04 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mistras Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Torren Management LLC acquired a new position in Mistras Group in the fourth quarter valued at $28,000. Legal & General Group Plc purchased a new position in Mistras Group during the second quarter worth about $30,000. State of Wyoming acquired a new stake in Mistras Group in the 2nd quarter worth about $71,000. BNP Paribas Financial Markets boosted its stake in Mistras Group by 22.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock worth $73,000 after buying an additional 1,360 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Mistras Group in the 4th quarter valued at about $74,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.
In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.
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