Mistras Group (MG) Receives “Hold” Rating from Canaccord Genuity

Canaccord Genuity reaffirmed their hold rating on shares of Mistras Group (NYSE:MG) in a research note published on Friday. Canaccord Genuity currently has a $22.00 price target on the technology company’s stock.

“We continue to expect aerospace to be a growth driver in 2018 on contributions from the company’s Safran contract. We reiterate our HOLD rating and $22 price target.”,” the firm’s analyst commented.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Mistras Group from a sell rating to a hold rating and set a $25.00 target price on the stock in a research report on Saturday, November 11th. Goldman Sachs Group cut Mistras Group from a neutral rating to a sell rating and dropped their target price for the stock from $45.00 to $41.00 in a research report on Monday, October 16th. KeyCorp reissued a hold rating on shares of Mistras Group in a research report on Friday, October 6th. Finally, Robert W. Baird cut Mistras Group from an outperform rating to a neutral rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $34.71.

Shares of Mistras Group (MG) opened at $22.21 on Friday. The company has a market capitalization of $628.34, a PE ratio of 39.66 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.21 and a quick ratio of 2.08. Mistras Group has a twelve month low of $17.00 and a twelve month high of $26.46.

Mistras Group (NYSE:MG) last announced its earnings results on Monday, November 6th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $179.57 million during the quarter, compared to analysts’ expectations of $172.28 million. Mistras Group had a return on equity of 6.16% and a net margin of 0.68%. analysts predict that Mistras Group will post 0.46 earnings per share for the current fiscal year.

In other news, EVP Michael C. Keefe sold 4,000 shares of Mistras Group stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $22.80, for a total transaction of $91,200.00. Following the transaction, the executive vice president now directly owns 38,761 shares of the company’s stock, valued at approximately $883,750.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 44.70% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Broad Run Investment Management LLC lifted its position in shares of Mistras Group by 1.7% during the 2nd quarter. Broad Run Investment Management LLC now owns 1,577,235 shares of the technology company’s stock valued at $34,652,000 after buying an additional 26,989 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Mistras Group by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,386,429 shares of the technology company’s stock valued at $30,460,000 after buying an additional 34,319 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $23,949,000 after buying an additional 57,126 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Mistras Group by 10.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 871,988 shares of the technology company’s stock valued at $17,876,000 after buying an additional 83,012 shares in the last quarter. Finally, Engine Capital Management LLC lifted its position in shares of Mistras Group by 22.6% during the 3rd quarter. Engine Capital Management LLC now owns 381,008 shares of the technology company’s stock valued at $7,811,000 after buying an additional 70,218 shares in the last quarter. 61.94% of the stock is currently owned by hedge funds and other institutional investors.

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Mistras Group Company Profile

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