Mistras Group (MG) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Mistras Group (NYSE:MG) from a hold rating to a buy rating in a report published on Tuesday. They currently have $26.00 target price 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. “

MG has been the topic of several other research reports. Canaccord Genuity reaffirmed a hold rating and set a $22.00 price target on shares of Mistras Group in a research note on Friday, December 22nd. Goldman Sachs Group downgraded shares of Mistras Group from a neutral rating to a sell rating and dropped their price target for the stock from $45.00 to $41.00 in a research note on Monday, October 16th. KeyCorp reaffirmed a hold rating on shares of Mistras Group in a research note on Friday, October 6th. Finally, Robert W. Baird downgraded shares of Mistras Group from an outperform rating to a neutral rating and lifted their price target for the stock from $21.00 to $22.00 in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $34.86.

Mistras Group (NYSE MG) traded up $0.03 during trading on Tuesday, reaching $22.69. 46,819 shares of the company traded hands, compared to its average volume of 49,944. Mistras Group has a 12-month low of $17.00 and a 12-month high of $24.32. The stock has a market cap of $641.07, a P/E ratio of 40.46 and a beta of 1.19. 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 (NYSE:MG) last released its quarterly earnings results on Monday, November 6th. The technology company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Mistras Group had a return on equity of 6.16% and a net margin of 0.68%. The firm had revenue of $179.57 million for the quarter, compared to analysts’ expectations of $172.28 million. sell-side analysts predict that Mistras Group will post 0.48 earnings per share for the current year.

In other news, EVP Michael C. Keefe sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now 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 Securities & Exchange Commission, which is available through the SEC website. 44.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Mistras Group by 964.9% in the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after purchasing an additional 4,284 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Mistras Group by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,829 shares of the technology company’s stock worth $128,000 after purchasing an additional 874 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Mistras Group in the 2nd quarter worth about $199,000. California Public Employees Retirement System bought a new stake in shares of Mistras Group in the 2nd quarter worth about $204,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Mistras Group in the 2nd quarter valued at about $260,000. 61.94% of the stock is owned by institutional investors.

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Mistras Group Company Profile

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