Robert W. Baird downgraded shares of Mistras Group Inc (NYSE:MG) from an outperform rating to a neutral rating in a report published on Monday. They currently have $22.00 price target on the technology company’s stock, up from their prior price target of $21.00.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity lowered their price objective on shares of Mistras Group from $22.00 to $20.00 and set a hold rating for the company in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Mistras Group from a sell rating to a hold rating in a research report on Wednesday, July 12th. KeyCorp reiterated a hold rating on shares of Mistras Group in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Mistras Group from a hold rating to a sell rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Mistras Group has an average rating of Hold and a consensus price target of $35.00.

Shares of Mistras Group (NYSE MG) opened at 20.63 on Monday. The stock has a 50 day moving average of $19.53 and a 200-day moving average of $20.85. Mistras Group has a 52 week low of $17.00 and a 52 week high of $26.46. The firm has a market capitalization of $582.80 million, a price-to-earnings ratio of 43.89 and a beta of 1.17.

Mistras Group (NYSE:MG) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). The company had revenue of $170.44 million for the quarter, compared to analyst estimates of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. Analysts expect that Mistras Group will post $0.49 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Mistras Group Inc (MG) Downgraded to “Neutral” at Robert W. Baird” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/03/mistras-group-inc-mg-downgraded-to-neutral-at-robert-w-baird.html.

In other Mistras Group news, COO Jonathan H. Wolk acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average cost of $17.41 per share, for a total transaction of $43,525.00. Following the completion of the acquisition, the chief operating officer now directly owns 83,589 shares of the company’s stock, valued at approximately $1,455,284.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $21.08, for a total transaction of $2,000,007.16. Following the completion of the transaction, the chairman now owns 10,651,632 shares in the company, valued at $224,536,402.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,829 shares of company stock worth $4,003,459. 44.70% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in Mistras Group by 964.9% during the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after acquiring an additional 4,284 shares during the period. Victory Capital Management Inc. raised its position in shares of Mistras Group by 66.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,981 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Mistras Group during the 2nd quarter valued at $199,000. California Public Employees Retirement System bought a new stake in shares of Mistras Group during the 2nd quarter valued at $204,000. Finally, American International Group Inc. raised its position in shares of Mistras Group by 7.0% during the 1st quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after acquiring an additional 694 shares during the last quarter. 60.60% of the stock is currently owned by hedge funds and other institutional investors.

About Mistras Group

Analyst Recommendations for Mistras Group (NYSE:MG)

Receive News & Stock Ratings for Mistras Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mistras Group Inc and related stocks with our FREE daily email newsletter.