Mistras Group Inc. (NYSE:MG) shares saw unusually-high trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 247,311 shares were traded during mid-day trading, an increase of 138% from the previous session’s volume of 103,999 shares.The stock last traded at $23.33 and had previously closed at $23.25.
The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business earned $168.40 million during the quarter, compared to analyst estimates of $5.94 billion. Mistras Group had a net margin of 3.43% and a return on equity of 10.61%. Mistras Group’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS.
A number of equities analysts have issued reports on the stock. CIBC lifted their price objective on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Mistras Group from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Friday, July 22nd. TD Securities cut their price objective on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Finally, Robert W. Baird raised shares of Mistras Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $27.00 to $28.00 in a report on Friday, August 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Mistras Group currently has an average rating of “Buy” and a consensus target price of $41.75.
In related news, insider Dennis Bertolotti sold 21,000 shares of the business’s stock in a transaction dated 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 directly owns 101,062 shares of the company’s stock, valued at approximately $2,523,518.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 45.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of MG. Rational Advisors LLC bought a new position in shares of Mistras Group during the second quarter worth $128,000. PNC Financial Services Group Inc. increased its stake in Mistras Group by 97.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,425 shares of the company’s stock valued at $153,000 after buying an additional 3,164 shares during the period. BlackRock Group LTD increased its stake 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 period. Globeflex Capital L P acquired a new stake in Mistras Group during the second quarter valued at approximately $186,000. Finally, BlackRock Advisors LLC increased its stake 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 period. 56.35% of the stock is currently owned by institutional investors.
The company’s 50 day moving average is $23.82 and its 200-day moving average is $24.47. The firm has a market cap of $675.52 million, a price-to-earnings ratio of 28.45 and a beta of 1.20.
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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