Mistras Group Inc (NYSE:MG) was downgraded by Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “sell” rating in a research note issued on Monday. They currently have a $41.00 price objective on the technology company’s stock, down from their prior price objective of $45.00. Goldman Sachs Group, Inc. (The)’s price objective suggests a potential upside of 99.03% from the stock’s current price.

A number of other equities analysts have also recently issued reports on MG. Canaccord Genuity cut their target price on shares of Mistras Group from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, August 10th. Robert W. Baird cut their target price on shares of Mistras Group from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. KeyCorp restated a “hold” rating on shares of Mistras Group in a research report on Friday, October 6th. Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, BidaskClub cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Mistras Group presently has an average rating of “Hold” and an average price target of $36.00.

Mistras Group (MG) traded up 0.10% during mid-day trading on Monday, reaching $20.62. 26,365 shares of the company’s stock were exchanged. Mistras Group has a 1-year low of $17.00 and a 1-year high of $26.46. The stock has a market capitalization of $582.52 million, a PE ratio of 43.87 and a beta of 1.17. The firm’s 50-day moving average is $20.35 and its 200 day moving average is $20.87.

Mistras Group (NYSE:MG) last announced its earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $170.44 million for the quarter, compared to analyst estimates of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. Analysts forecast that Mistras Group will post $0.49 earnings per share for the current fiscal year.

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In other news, EVP Michael C. Keefe sold 4,462 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $18.05, for a total value of $80,539.10. Following the completion of the transaction, the executive vice president now owns 47,223 shares of the company’s stock, valued at $852,375.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the business’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 transaction 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. Insiders own 44.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its position in shares of 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 last quarter. Victory Capital Management Inc. raised its position in shares of Mistras Group by 66.6% in the first quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after buying an additional 1,981 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Mistras Group in the second quarter valued at approximately $199,000. California Public Employees Retirement System acquired a new position in shares of Mistras Group in the second quarter valued at approximately $204,000. Finally, American International Group Inc. raised its position in shares of Mistras Group by 7.0% in the first quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after buying an additional 694 shares during the last quarter. 60.60% of the stock is owned by institutional investors and hedge funds.

About Mistras Group

Analyst Recommendations for Mistras Group (NYSE:MG)

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