Mistras Group (MG) Stock Rating Upgraded by Zacks Investment Research

Mistras Group (NYSE:MG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $26.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.08% from the company’s current price.

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 issued reports about the stock. Robert W. Baird lowered shares of Mistras Group from an “outperform” rating to a “neutral” rating and upped their price target for the company from $21.00 to $22.00 in a report on Monday, October 2nd. KeyCorp restated a “hold” rating on shares of Mistras Group in a report on Friday, October 6th. Canaccord Genuity upped their price objective on shares of Mistras Group from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, November 7th. Finally, Goldman Sachs Group lowered shares of Mistras Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $45.00 to $41.00 in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.86.

Mistras Group (NYSE MG) traded up $0.15 during trading hours on Wednesday, reaching $23.62. 62,500 shares of the company were exchanged, compared to its average volume of 79,200. Mistras Group has a 52 week low of $17.00 and a 52 week 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 company has a market cap of $663.98, a price-to-earnings ratio of 168.73 and a beta of 1.19.

Mistras Group (NYSE:MG) last posted its quarterly earnings results on Monday, November 6th. The technology company reported $0.13 EPS 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 for the quarter, compared to the consensus estimate of $172.28 million. research analysts predict that Mistras Group will post 0.46 EPS for the current fiscal year.

In other Mistras Group news, EVP Michael C. Keefe sold 4,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $22.80, for a total value of $91,200.00. Following the completion of the transaction, the executive vice president now directly owns 38,761 shares in the company, valued at approximately $883,750.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Broad Run Investment Management LLC increased its stake in shares of Mistras Group by 1.7% in the 2nd quarter. Broad Run Investment Management LLC now owns 1,577,235 shares of the technology company’s stock worth $34,652,000 after acquiring an additional 26,989 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Mistras Group by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,386,429 shares of the technology company’s stock worth $30,460,000 after acquiring an additional 34,319 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mistras Group by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,168,161 shares of the technology company’s stock worth $23,949,000 after acquiring an additional 57,126 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Mistras Group by 10.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 871,988 shares of the technology company’s stock worth $17,876,000 after acquiring an additional 83,012 shares in the last quarter. Finally, Engine Capital Management LLC increased its stake in shares of Mistras Group by 22.6% in the 3rd quarter. Engine Capital Management LLC now owns 381,008 shares of the technology company’s stock worth $7,811,000 after acquiring an additional 70,218 shares in the last quarter. Institutional investors own 61.94% of the company’s stock.

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