Mistras Group Inc. (NYSE:MG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday.
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 equities analysts have also recently weighed in on MG. TD Securities reduced their price target on Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, July 11th. CIBC boosted their target price on Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 9th. Finally, Robert W. Baird upgraded Mistras Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Mistras Group presently has a consensus rating of “Hold” and a consensus price target of $41.75.
Mistras Group (NYSE:MG) opened at 20.27 on Wednesday. The company has a market capitalization of $587.32 million, a P/E ratio of 25.02 and a beta of 1.20. Mistras Group has a 52-week low of $18.02 and a 52-week high of $26.47. The firm has a 50-day moving average price of $23.31 and a 200 day moving average price of $24.30.
Mistras Group (NYSE:MG) last announced its quarterly earnings results on Thursday, October 6th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company earned $168.40 million during the quarter. Mistras Group had a return on equity of 10.22% and a net margin of 3.44%. Mistras Group’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. On average, analysts predict that Mistras Group will post $5.23 earnings per share for the current fiscal year.
In other Mistras Group news, insider Dennis Bertolotti sold 21,000 shares of Mistras Group stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total transaction of $524,370.00. Following the completion of the sale, the insider now owns 101,062 shares of the company’s stock, valued at $2,523,518.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 45.60% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Mistras Group by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 78,958 shares of the company’s stock valued at $1,885,000 after buying an additional 1,155 shares during the period. American Century Companies Inc. purchased a new stake in shares of Mistras Group during the second quarter valued at about $208,000. Strs Ohio raised its stake in shares of Mistras Group by 81.1% in the second quarter. Strs Ohio now owns 9,600 shares of the company’s stock valued at $229,000 after buying an additional 4,300 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Mistras Group during the second quarter valued at about $590,000. Finally, Rockefeller Financial Services Inc. raised 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 period. 56.35% of the stock is owned by hedge funds and other institutional investors.
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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