Mistras Group Inc. (NYSE:MG) issued its quarterly earnings results on Thursday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Mistras Group had a net margin of 3.43% and a return on equity of 10.61%. The business had revenue of $168.40 million for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Mistras Group updated its FY17 guidance to $0.88-0.97 EPS.
Shares of Mistras Group (NYSE:MG) traded up 0.34% during midday trading on Thursday, hitting $23.33. 248,094 shares of the company’s stock traded hands. The firm has a market capitalization of $675.52 million, a price-to-earnings ratio of 28.45 and a beta of 1.20. The company has a 50 day moving average price of $23.85 and a 200 day moving average price of $24.47. Mistras Group has a 1-year low of $16.50 and a 1-year high of $26.47.
In related news, insider Dennis Bertolotti sold 21,000 shares of Mistras Group stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.97, for a total value of $524,370.00. Following the transaction, the insider now owns 101,062 shares in the company, valued at approximately $2,523,518.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 45.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rational Advisors LLC bought a new position in Mistras Group during the second quarter valued at about $128,000. BlackRock Group LTD increased its position in Mistras Group by 54.5% in the second quarter. BlackRock Group LTD now owns 6,903 shares of the company’s stock valued at $165,000 after buying an additional 2,434 shares during the last quarter. Globeflex Capital L P bought a new position in Mistras Group during the second quarter valued at about $186,000. BlackRock Advisors LLC increased its position in Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock valued at $200,000 after buying an additional 335 shares during the last quarter. Finally, A.R.T. Advisors LLC increased its position in Mistras Group by 3.5% in the second quarter. A.R.T. Advisors LLC now owns 8,769 shares of the company’s stock valued at $209,000 after buying an additional 300 shares during the last quarter. Institutional investors own 56.35% of the company’s stock.
Several equities analysts have recently commented on the stock. Robert W. Baird raised shares of Mistras Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $28.00 in a research report on Friday, August 12th. CIBC increased their price target on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 9th. Zacks Investment Research cut shares of Mistras Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, TD Securities reduced their price target on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Mistras Group has an average rating of “Buy” and an average price target of $37.93.
Mistras Group Company Profile
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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