Mistras Group Inc. (MG) Lowered to “Strong Sell” at Zacks Investment Research
Mistras Group Inc. (NYSE:MG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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 research firms also recently weighed in on MG. TD Securities reduced their target price on shares of Mistras Group from $51.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, July 11th. CIBC lifted their target price on shares of Mistras Group from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 9th. Finally, Robert W. Baird upgraded shares of Mistras Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $28.00 in a research note on Friday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Mistras Group has an average rating of “Hold” and an average price target of $41.75.
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Mistras Group (NYSE:MG) opened at 20.09 on Wednesday. The firm has a market cap of $582.11 million, a price-to-earnings ratio of 24.80 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 company has a 50-day moving average of $23.52 and a 200-day moving average of $24.36.
Mistras Group (NYSE:MG) last posted its earnings results on Thursday, October 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The firm earned $168.40 million during the quarter. Mistras Group had a net margin of 3.44% and a return on equity of 10.33%. Mistras Group’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities research analysts forecast 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 the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 101,062 shares of the company’s stock, valued at approximately $2,523,518.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 45.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MG. Wellington Management Group LLP boosted its position in Mistras Group by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,881,038 shares of the company’s stock worth $71,364,000 after buying an additional 74,746 shares in the last quarter. Vanguard Group Inc. boosted its position in Mistras Group by 3.6% in the second quarter. Vanguard Group Inc. now owns 1,216,173 shares of the company’s stock worth $29,031,000 after buying an additional 42,184 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Mistras Group by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 980,132 shares of the company’s stock worth $23,395,000 after buying an additional 61,609 shares in the last quarter. Rockefeller Financial Services Inc. boosted its position in Mistras Group by 1.3% in the second quarter. Rockefeller Financial Services Inc. now owns 589,705 shares of the company’s stock worth $14,076,000 after buying an additional 7,786 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Mistras Group by 4.2% in the second quarter. BlackRock Fund Advisors now owns 445,265 shares of the company’s stock worth $10,628,000 after buying an additional 17,817 shares in the last quarter. 56.35% of the stock is owned by institutional investors and hedge funds.
About Mistras Group
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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