Mistras Group (NYSE:MG) Hits New 12-Month High – Here’s Why

Mistras Group Inc (NYSE:MG) shares hit a new 52-week high on Thursday. The stock traded as high as $21.42 and last traded at $21.3470, with a volume of 254437 shares trading hands. The stock had previously closed at $20.94.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MG shares. Weiss Ratings lowered Mistras Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 8th. Wall Street Zen cut Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.00.

Mistras Group Stock Up 0.7%

The firm has a market capitalization of $685.73 million, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.28 and a beta of 0.92. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average of $18.15 and a two-hundred day moving average of $17.37.

Mistras Group (NYSE:MG) last posted its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. On average, equities research analysts forecast that Mistras Group Inc will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Weber Capital Management LLC ADV acquired a new stake in shares of Mistras Group in the second quarter worth $25,299,250. Dimensional Fund Advisors LP boosted its position in Mistras Group by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,703,681 shares of the technology company’s stock worth $25,180,000 after purchasing an additional 35,835 shares during the period. BlackRock Inc. acquired a new position in Mistras Group during the 2nd quarter worth approximately $20,373,000. Deutsche Bank AG purchased a new position in Mistras Group in the 2nd quarter worth approximately $6,804,000. Finally, Invenomic Capital Management LP grew its position in Mistras Group by 0.7% in the fourth quarter. Invenomic Capital Management LP now owns 475,692 shares of the technology company’s stock valued at $6,018,000 after acquiring an additional 3,156 shares in the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.

Mistras Group Company Profile

Mistras Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.