Mistras Group Inc. (MG) Downgraded to Strong Sell at Zacks Investment Research
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. “
Several other analysts have also issued reports on the company. TD Securities cut their price target on Mistras Group from $51.00 to $46.00 and set a buy rating for the company in a report on Monday, July 11th. Robert W. Baird raised Mistras Group from a neutral rating to an outperform rating and boosted their price target for the company from $27.00 to $28.00 in a report on Friday, August 12th. Finally, CIBC boosted their price target on Mistras Group from $45.00 to $47.00 and gave the company a sector perform rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Mistras Group has an average rating of Hold and a consensus price target of $41.75.
Shares of Mistras Group (NYSE:MG) opened at 20.04 on Wednesday. The stock’s 50 day moving average price is $23.41 and its 200-day moving average price is $24.32. Mistras Group has a 12-month low of $18.02 and a 12-month high of $26.47. The firm has a market cap of $580.66 million, a P/E ratio of 24.74 and a beta of 1.20.
Mistras Group (NYSE:MG) last issued its quarterly earnings data on Thursday, October 6th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Mistras Group had a return on equity of 10.22% and a net margin of 3.44%. The company earned $168.40 million during the quarter. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts predict that Mistras Group will post $5.23 earnings per share for the current fiscal year.
In other news, insider Dennis Bertolotti sold 21,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total value of $524,370.00. Following the sale, the insider now directly owns 101,062 shares in the company, valued at $2,523,518.14. The sale was disclosed in a document filed with the SEC, which is available at this link. 45.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Mistras Group by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,881,038 shares of the company’s stock valued at $71,364,000 after buying an additional 74,746 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Mistras Group by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,216,173 shares of the company’s stock valued at $29,031,000 after buying an additional 42,184 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mistras Group by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 980,132 shares of the company’s stock valued at $23,395,000 after buying an additional 61,609 shares during the last quarter. Rockefeller Financial Services Inc. increased its stake in shares of Mistras Group by 1.3% in the second quarter. Rockefeller Financial Services Inc. now owns 589,705 shares of the company’s stock valued at $14,076,000 after buying an additional 7,786 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Mistras Group by 4.2% in the second quarter. BlackRock Fund Advisors now owns 445,265 shares of the company’s stock valued at $10,628,000 after buying an additional 17,817 shares during the last quarter. Hedge funds and other institutional investors own 56.35% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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