Zacks Investment Research upgraded shares of Mistras Group Inc (NYSE:MG) from a sell rating to a hold rating in a report released on Saturday morning. They currently have $25.00 price objective on the technology company’s stock.
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 equities research analysts have also recently issued reports about the company. Robert W. Baird dropped their price objective on Mistras Group from $24.00 to $19.00 and set an outperform rating for the company in a research note on Wednesday, August 9th. Canaccord Genuity lifted their price objective on Mistras Group from $20.00 to $22.00 and gave the company a hold rating in a research note on Tuesday, November 7th. BidaskClub cut Mistras Group from a hold rating to a sell rating in a research note on Friday, August 18th. KeyCorp reaffirmed a hold rating on shares of Mistras Group in a research note on Friday, August 25th. Finally, Goldman Sachs Group, Inc. (The) cut Mistras Group from a neutral rating to a sell rating and dropped their price objective for the company from $45.00 to $41.00 in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $34.71.
Shares of Mistras Group (MG) opened at $21.92 on Friday. Mistras Group has a one year low of $17.00 and a one year high of $26.46. The company has a quick ratio of 2.08, a current ratio of 2.21 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $632.86, a price-to-earnings ratio of 39.95 and a beta of 1.16.
Mistras Group (NYSE:MG) last issued its quarterly earnings data on Monday, November 6th. The technology company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Mistras Group had a net margin of 0.68% and a return on equity of 6.16%. The firm had revenue of $179.57 million during the quarter, compared to analyst estimates of $172.28 million. sell-side analysts predict that Mistras Group will post 0.46 EPS for the current fiscal year.
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In related news, COO Jonathan H. Wolk bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $17.41 per share, for a total transaction of $43,525.00. Following the completion of the acquisition, the chief operating officer now owns 83,589 shares in the company, valued at approximately $1,455,284.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 44.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Mistras Group by 5.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,168,161 shares of the technology company’s stock worth $23,949,000 after buying an additional 57,126 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Mistras Group by 5.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 64,457 shares of the technology company’s stock worth $1,322,000 after buying an additional 3,151 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Mistras Group by 45.0% during the 3rd quarter. Wells Fargo & Company MN now owns 20,918 shares of the technology company’s stock worth $428,000 after buying an additional 6,496 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Mistras Group during the 3rd quarter worth about $870,000. Finally, Lapides Asset Management LLC purchased a new stake in Mistras Group during the 3rd quarter worth about $531,000. 60.85% of the stock is owned by institutional investors.
About Mistras Group
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