Mistras Group Inc (MG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Mistras Group Inc (NYSE:MG) from a hold rating to a sell rating in a research report released on Saturday.

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. “

A number of other brokerages have also commented on MG. BMO Capital Markets reissued a market perform rating and set a $47.00 price objective on shares of Mistras Group in a report on Friday, May 12th. Canaccord Genuity decreased their price objective on Mistras Group from $22.00 to $20.00 and set a hold rating for the company in a report on Thursday. Finally, Robert W. Baird decreased their price objective on Mistras Group from $24.00 to $19.00 and set an outperform rating for the company in a report on Wednesday. One investment analyst has 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 has a consensus rating of Hold and a consensus target price of $34.40.

Mistras Group (MG) traded down 1.32% on Friday, hitting $18.01. The company had a trading volume of 114,869 shares. Mistras Group has a one year low of $17.66 and a one year high of $26.46. The stock’s 50-day moving average price is $21.17 and its 200 day moving average price is $21.70. The company has a market capitalization of $508.78 million, a P/E ratio of 38.32 and a beta of 1.15.

Mistras Group (NYSE:MG) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.07. The company had revenue of $170.44 million for the quarter, compared to the consensus estimate of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. On average, analysts expect that Mistras Group will post $0.48 EPS for the current fiscal year.

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In other news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $21.08, for a total value of $2,000,007.16. Following the transaction, the chairman now owns 10,651,632 shares in the company, valued at approximately $224,536,402.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sotirios J. Vahaviolos sold 94,206 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $21.23, for a total value of $1,999,993.38. Following the completion of the transaction, the chairman now owns 10,746,509 shares in the company, valued at approximately $228,148,386.07. The disclosure for this sale can be found here. Insiders sold a total of 279,573 shares of company stock worth $5,922,913 in the last 90 days. Company insiders own 44.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in MG. Citigroup Inc. increased its position in Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock valued at $104,000 after buying an additional 4,284 shares during the last quarter. Victory Capital Management Inc. increased its position in Mistras Group by 66.6% in the first quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after buying an additional 1,981 shares during the last quarter. California Public Employees Retirement System purchased a new position in Mistras Group during the second quarter valued at approximately $204,000. American International Group Inc. increased its position in Mistras Group by 7.0% in the first quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after buying an additional 694 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new position in Mistras Group during the second quarter valued at approximately $260,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About Mistras Group

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