Mistras Group Inc (NYSE:MG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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. “

MG has been the subject of several other research reports. Robert W. Baird cut their price objective on Mistras Group from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday. Canaccord Genuity cut their price objective on Mistras Group from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $47.00 price objective on shares of Mistras Group in a research report on Friday, May 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.40.

Shares of Mistras Group (MG) traded down 1.32% during midday trading on Friday, hitting $18.01. The company had a trading volume of 114,869 shares. The company’s 50 day moving average is $21.17 and its 200 day moving average is $21.70. The firm has a market cap of $508.78 million, a price-to-earnings ratio of 38.32 and a beta of 1.15. Mistras Group has a one year low of $17.66 and a one year high of $26.46.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.07. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. The business had revenue of $170.44 million for the quarter, compared to analyst estimates of $170.16 million. Equities analysts forecast that Mistras Group will post $0.48 earnings per share for the current fiscal year.

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In other Mistras Group news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $21.08, for a total value of $2,000,007.16. Following the completion of the transaction, the chairman now owns 10,651,632 shares of the company’s stock, valued at approximately $224,536,402.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $21.25, for a total value of $1,922,912.50. Following the completion of the transaction, the chairman now directly owns 10,561,142 shares of the company’s stock, valued at approximately $224,424,267.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,573 shares of company stock valued at $5,922,913. Insiders own 44.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Mistras Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,111,035 shares of the technology company’s stock valued at $24,409,000 after buying an additional 69,211 shares during the period. Parametric Portfolio Associates LLC boosted its position in Mistras Group by 13.5% in the second quarter. Parametric Portfolio Associates LLC now owns 30,016 shares of the technology company’s stock valued at $659,000 after buying an additional 3,573 shares during the period. California Public Employees Retirement System purchased a new position in Mistras Group during the second quarter valued at approximately $204,000. Vanguard Group Inc. boosted its position in Mistras Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 1,386,429 shares of the technology company’s stock valued at $30,460,000 after buying an additional 34,319 shares during the period. Finally, Citigroup Inc. boosted its position in Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock valued at $104,000 after buying an additional 4,284 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Company Profile

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